Protocol on Russian loan next week

Serbia's Minister of Infrastructure and Energy Milutin Mrkonjic says a protocol on a USD 800mn Russian loan for the Serbian railways will be signed next week. Visiting works on the Belgrade bypass on Sunday, Mrkonjic told reporters that the first project included in the arrangement with Russia - the modernization of the railway line from Belgrade to Pancevo, northeast of Belgrade - is expected get under way once the protocol is in place. Protocol on Russian loan next week "Now we are in the process of negotiating the share of Russian companies, but our and Russian companies will surely participate fifty-fifty," said Mrkonjic. He said half of the funds in the loans will be in the form of Russian equipment, such as railway tracks which Serbia does not have. "This is a good deal and that is why we chose to work with the Russians, there is no ideology here - when the Serbian government works there is no ideology, only mutual interests and it has always been like that," said Mrkonjic. Negotiations on the Russian loan ended February 29 in Moscow. State Secretary with the Ministry of Finance Goran Radisavljevic, who took part in the talks, said the final agreement will not be signed before the fall. The two sides have agreed to finance five projects worth a total of USD 920 million, with Russia providing 85 percent and Serbia 15 percent of the money. Milutin Mrkonjic (Tanjug, file) Tanjug

Protocol on Russian loan next week

"Now we are in the process of negotiating the share of Russian companies, but our and Russian companies will surely participate fifty-fifty," said Mrkonjić.

He said half of the funds in the loans will be in the form of Russian equipment, such as railway tracks which Serbia does not have.

"This is a good deal and that is why we chose to work with the Russians, there is no ideology here - when the Serbian government works there is no ideology, only mutual interests and it has always been like that," said Mrkonjić.

Negotiations on the Russian loan ended February 29 in Moscow.

State Secretary with the Ministry of Finance Goran Radisavljević, who took part in the talks, said the final agreement will not be signed before the fall.

The two sides have agreed to finance five projects worth a total of USD 920 million, with Russia providing 85 percent and Serbia 15 percent of the money.