2013-01-25 17:44

Lithuanian government may inject up to billion litas into social insurance fund

The Lithuanian Finance Ministry proposes to extend a loan of up to 914 million litas (EUR 265m) to the cash-strapped social insurance fund, Sodra.
„Sodra“
„Sodra“ / Andriaus Ufarto/BFL nuotr.
Temos: 2 Litas Sodra

If approved by the Cabinet, the new loan would mature on December 20, 2021, and carry an annual interest rate of 4.321 percent, according to a draft government resolution drawn up by the ministry.

Sodra says that it will need to borrow a total of 2.684 billion litas from the government and commercial banks this year.

As of January 11, Sodra's debt obligations totaled 9.977 billion litas, including 8.477 billion litas in loans from the government and 1.5 billion litas from banks.

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