1. A Loan in Siberia.
- Subjects
JAPANESE loans ,INTEREST rates ,LOGGING ,COAL ,COAL mining ,NATURAL gas prospecting ,LUMBERING equipment ,FINANCE - Abstract
The article reports on the agreement which will grant Soviet Union a loan from Japan in 1974. Japan will extend a 10.5 billion dollars loan to Soviet Union to finance major projects including harvesting of timber, mining coal and prospecting for natural gas. In return, Russia will repay the loan at an interest of 6.375 percent in the next 16 years. The agreement also includes that Soviet Union will use four-fifths of the loan to purchase coal and lumbering equipment from Japan and supply Japan with coal at prevailing market price.
- Published
- 1974