Bloomberg News

Russia Agrees to Grant Cyprus $6.3 Billion Loan, Politis Says

September 04, 2012

Russia’s government agreed to grant Cyprus, the fifth euro area member to seek an international rescue, a 5 billion euro ($6.3 billion) bilateral loan, Politis reported today without saying where obtained the information.

The loan, which is the second that Cyprus has agreed with Russia in a year, will be disbursed in consultation with the International Monetary Fund, and the Russian IMF representative was instructed to ask how the funds will be utilized, the Nicosia-based newspaper reported, without saying how it got the information.

To contact the reporter on this story: Stelios Orphanides in Nicosia at sorphanides@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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