The Samara administration will place purchases for the provision of services for the provision of revolving credit lines by credit institutions in the amount of 1,600.0 million rubles (three auctions for 500 million rubles and one auction for 100 million rubles with a period of 365 calendar days). This is due to an increase in the budget deficit of the regional capital. The funds will be used for transport activities and road maintenance.
— Let us note that the budget policy in the field of municipal internal debt of Samara is focused on ensuring the ability to borrow on terms acceptable to the municipality as a reliable borrower, and balancing the local budget while maintaining the achieved high degree of debt sustainability; optimization of the structure of municipal debt and the costs of servicing it; absence of overdue debt obligations; risk reduction and uniform distribution of debt-related payments over time,” the mayor’s office said.
The use of revolving credit lines, due to the possibility of repeatedly attracting credit resources, as well as their timely repayment throughout the entire term of the municipal contract, allows reducing the cost of budget funds for servicing the municipal internal debt of Samara.
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Photo: Samara-GIS
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News from neighboring regions on the topic
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Tags: Samara administration place purchases provision services provision revolving credit lines Samara
