Govt. wants new loan from banks
The Serbian government has proposed a new bill to parliament, in a bid to borrow more money from commercial banks.
Wednesday, 02.02.2011.
13:33
The Serbian government has proposed a new bill to parliament, in a bid to borrow more money from commercial banks. A new loan would amount to USD 400mn. Govt. wants new loan from banks The money would be used to finance budget deficit and debt refinancing. The bill, which refers to Serbia's loan arrangement with Societe Generale, was introduced to parliamentary procedure on January 28. "The Republic of Serbia will take out the loan in euros with the World Bank as the guarantor, and the loan will be used for financing budget deficit and debt refinancing," the draft sent to MPs reads. Societe Generale offered most favorable crediting conditions and the payback period of 72 months, said the government. Last time the Serbian parliament adopted similar laws was on November 23, to borrow EUR 250mn from ten commercial banks so as to cover the budget deficit.
Govt. wants new loan from banks
The money would be used to finance budget deficit and debt refinancing.The bill, which refers to Serbia's loan arrangement with Societe Generale, was introduced to parliamentary procedure on January 28.
"The Republic of Serbia will take out the loan in euros with the World Bank as the guarantor, and the loan will be used for financing budget deficit and debt refinancing," the draft sent to MPs reads.
Societe Generale offered most favorable crediting conditions and the payback period of 72 months, said the government.
Last time the Serbian parliament adopted similar laws was on November 23, to borrow EUR 250mn from ten commercial banks so as to cover the budget deficit.
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