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The Government of the Union of Soviet Socialist Republics and the Government of the Republic of Finland, being desirous of strengthening and developing economic relations between their two countries on the basis of the Treaty of Friendship, Co-operation and Mutual Assistance of 6 April 1948, have concluded the present Agreement in the following terms:

Article 1

The USSR shall grant to Finland, for use at its discretion, a ten-year loan in gold, United States dollars or other currencies as agreed upon between the State Bank of the USSR and the Bank of Finland, to a total amount equivalent to 8,886,720 grammes of fine gold, or 40 million roubles on the basis of a rouble fine-gold content of 0.222168 grammes.

The currencies to be furnished shall be calculated at their gold parity rates prevailing on the day the present Agreement comes into force.

Article 2

The Government of Finland shall be entitled to receive the amount of the loan aforesaid in a lump sum or in instalments, at its discretion, at any time within the three years following the date of the entry into force of this Agreement.

Article 3

The Government of Finland shall repay the gold or currency received under this Agreement within a period of ten years from the date of its receipt. The Government of Finland shall have the right to repay the sums received under the loan ahead of time, either in a lump sum or in instalments.

At the end of each calendar year the Government of Finland shall pay interest on the sums borrowed under the loan at the rate of 2 ½ per cent per annum.