Cyprus gets hefty trance of loan from Russia

Cyprus got a 1,32-billion-euro tranche of the Russian loan on Thursday, local media quoted the Cypriot Finance Ministry as saying.

Earlier, the two countries agreed that Moscow would grant a 2,5-billion-euro loan to Cyprus to help it grapple with its fiscal woes.

Under the agreement, the last tranche of the 590 million euros pledged is due to be granted before April 1, 2012, Finance Minister Kikis Kazamias said.

(Interfax)

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