Will Uzhgorod owe more than 10 million euro?

Today, November 29th, at the meeting of the Uzhgorod city council, the deputies adopted the decision, according to which the city will borrow a very serious sum. It will be 10.6 million euros.

Deputies of the City Council argue that the loan is needed to repair social facilities – over fifty, in total.

The borrower is the EIB (European Investment Bank). The guarantor for the loan will be not only the city, but also the units of the Cabinet of Ministers.

The loan grace period is 5 years, and the total period is 22 years.

It is not yet reported what sum will be paid in total from the city budget.

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