On repayment by the Bank of Abkhazia of a subordinated loan in the amount of 700 million rubles

30-06-2020 13:47

The Bank of Abkhazia has completed the repayment of the loan in the amount of 700.0 million rubles, received in 2010 under the Subordinated Loan Agreement No. 0001 dated October 7, 2010.

The subordinated loan was provided for a period of 10 years within the framework of the Agreement concluded on August 6, 2010 between the Government of the Republic of Abkhazia and the Government of the Russian Federation on the provision of a state loan to the Republic of Abkhazia.

Principal repayments have been made since 2014. In June of this year, the Bank of Abkhazia made a final payment in the amount of 91.6 million rubles to pay off the loan. Also, during the period of the loan agreement, the Bank of Abkhazia paid interest in the amount of 131.3 million rubles.