|Published:||Nov 28, 2010 9:24 PM EST|
|Updated:||Nov 28, 2010 6:24 PM EST|
BRUSSELS (AP) - EU governments have approved an euro85 billion ($113 billion) bailout deal for Ireland.
A statement from the Irish government said Sunday that the International Monetary Fund, the 16 eurozone nations and the European Commission will be involved. Britain, Sweden and Denmark will offer bilateral loans.
The statement says the average interest rate Ireland will pay is 5.8 percent. This total reflects higher rates to be charged by EU sources, and lower rates from IMF and national donors.
Greece is paying 5.2 percent interest on its own bailout from May. Ireland's aid package includes loans that range from 3 to 7 1/2 years, longer than the Greeks' three-year deal.
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