Oct. 5 (Bloomberg) -- Cyprus wants to borrow 2.5 billion euros ($3.3 billion) from Russia for 4 1/2 years, helping the eastern Mediterranean island to control its borrowing costs.
The Cabinet asked Finance Minister Kikis Kazamias to complete the agreement, government spokesman Stefanos Stefanou said today in an e-mailed statement. The annual interest rate is 4.5 percent, Stefanou said.
To contact the reporter on this story: Stelios Orphanides in Athens at email@example.com
To contact the editor responsible for this story: Torrey Clark at firstname.lastname@example.org