Finance Ministry to sign credit agreement with EBRD

The Russian government has commissioned the Finance Ministry to sign an agreement with the European Bank for Reconstruction and Development on attracting a credit for financing the restoration of the Ostankino television tower. According to the document, the EBRD will allocate a $14m credit for a 10-year period, including a two-year grace period. The corresponding ruling was signed by Prime Minister Mikhail Kasyanov.

The Finance Ministry was also commissioned to foresee resources for paying off and servicing the loan in federal budget drafts.

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