Russia to approve USD 1bn loan

Russia will approve a loan of up to one billion U.S. dollars to Serbia to finance the budget deficit and infrastructure projects. This is according to a statement from Russian Finance Minister Aleksey Kudrin, who said in Istanbul today that USD 350mn would be used for the Serbian budget, while the rest of the money would go toward infrastructural projects. Russia to approve USD 1bn loan AFP quotes an Interfax news agency report, which said that Kudrin explained that the exact amount and conditions for the loan would be determined in the next two weeks. Earlier, it was announed that Serbian Finance Minister Diana Dragutinovic had met with her Russian counterpart Kudrin in Istanbul, Turkey. The two ministers discussed the possibility for Russia to financially support Serbia's state budget, reports said. It was agreed that official negotiations on the subject will be conducted during this month, after the annual meetings of the IMF and World Bank assemblies, the Ministry of Finance announced. Kudrin, who is also Russian deputy prime minister, expressed Moscow's readiness to react quickly and to, if need be, change existing legislation in order for Serbia to receive the assistance this year – considering that it is not on the list of countries that have been approved for financial help in 2009. Dragutinovic thanked Kudrin for the support Russia is ready to offer Serbia, and stressed the important role of Ambassador Aleksandr Konuzin in coordinating the meeting. The minister added she hoped that "this time as well, traditionally friendly relations between the two countries would be proved".

Russia to approve USD 1bn loan

AFP quotes an Interfax news agency report, which said that Kudrin explained that the exact amount and conditions for the loan would be determined in the next two weeks.

Earlier, it was announed that Serbian Finance Minister Diana Dragutinović had met with her Russian counterpart Kudrin in Istanbul, Turkey.

The two ministers discussed the possibility for Russia to financially support Serbia's state budget, reports said.

It was agreed that official negotiations on the subject will be conducted during this month, after the annual meetings of the IMF and World Bank assemblies, the Ministry of Finance announced.

Kudrin, who is also Russian deputy prime minister, expressed Moscow's readiness to react quickly and to, if need be, change existing legislation in order for Serbia to receive the assistance this year – considering that it is not on the list of countries that have been approved for financial help in 2009.

Dragutinović thanked Kudrin for the support Russia is ready to offer Serbia, and stressed the important role of Ambassador Aleksandr Konuzin in coordinating the meeting.

The minister added she hoped that "this time as well, traditionally friendly relations between the two countries would be proved".