Bloomberg News

Cyprus Seeks 2.5 Billion Euro Loan From Russia for 4 1/2 Years

October 05, 2011

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

To contact the editor responsible for this story: Torrey Clark at

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