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Tallinn borrows 30 million euros

May 15, 2003
Aleksei Gunter

TALLINNThe city of Tallinn last week signed an unsecured 20 million euro loan agreement with Nordic Investment Bank, the first of its kind in the Baltic states.The five-year loan with an interest rate of Euribor plus 0.41 percent will cover expenses related to education, social housing municipal services and road construction.The loan, which is slated in Tallinn's 2003 annual budget, did not need the guarantee of the federal government in order to be processed, which is normally the practice whe ...

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