Putin expected to approve loan to Serbia

Serbia's Assistant Finance Minister Zoran Ćirović said Saturday that Russian PM Vladimir Putin should approve a USD 800mn loan to Serbian Railways.

Izvor: Tanjug

Sunday, 13.03.2011.

14:09

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Serbia's Assistant Finance Minister Zoran Cirovic said Saturday that Russian PM Vladimir Putin should approve a USD 800mn loan to Serbian Railways. Cirovic told Tanjug that after Putin gives his support, talks on the arrangement could resume in early April, and reminded that the money would be invested in the reconstruction of the Serbian section of the railway line from Belgrade to the Montenegrin port of Bar, the completion of the Belgrade railway junction and the railway line from Valjevo to Loznica. Putin expected to approve loan to Serbia “Financial terms are still undefined, and the Russian side should be a lot more specific about the cost of the loan and the participation of Serbian and Russian contractors at the meetings following Putin's visit,” he noted. “Serbia has the obligation to finish the project documentation and cost estimate in the first half of the year, and the CIP Transport Institute is working on this with the support of the Ministry and Serbian Railways,” the assistant finance minister pointed out. “The talks on the loan have been stalled by the lack of documentation, which the Russians insisted on,” Cirovic explained. He said that the projects had been prioritized according to how much of the project documentation had been completed, and that the Valjevo-Loznica railway line was first, followed by the Belgrade railway junction and finally the reconstruction of the Belgrade-Bar line. In the European Agreement on Main International Railway Lines (AGC), the Belgrade-Bar line is listed in category E of international railway lines.

Putin expected to approve loan to Serbia

“Financial terms are still undefined, and the Russian side should be a lot more specific about the cost of the loan and the participation of Serbian and Russian contractors at the meetings following Putin's visit,” he noted.

“Serbia has the obligation to finish the project documentation and cost estimate in the first half of the year, and the CIP Transport Institute is working on this with the support of the Ministry and Serbian Railways,” the assistant finance minister pointed out.

“The talks on the loan have been stalled by the lack of documentation, which the Russians insisted on,” Ćirović explained.

He said that the projects had been prioritized according to how much of the project documentation had been completed, and that the Valjevo-Loznica railway line was first, followed by the Belgrade railway junction and finally the reconstruction of the Belgrade-Bar line.

In the European Agreement on Main International Railway Lines (AGC), the Belgrade-Bar line is listed in category E of international railway lines.

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