Another Russian loan expected to be approved

BELGRADE Serbia's Minister of Natural Resources Milan Bacevic says a preliminary decision on a new, USD 1 billion loan Serbia plans to take from Russia had been made. A formal confirmation from Moscow is now expected, the minister said on Sunday in Belgrade. Another Russian loan expected to be approved The loan should have an interest of less than six percent and a 7-year deadline for payment. The first tranche, USD 300 million, will be available by the end of the year, Bacevic told Serbia's public broadcaster RTS. He specified that the money would go toward Serbia's state budget. Minister of Finance Mladjan Dinkic said in the parliament on Friday the sale of eurobonds secured USD 750 million and enough money in the budget until May 2013, adding that the Russian USD 1 billion loan would cover the entire 2013. Last week, it was announced in Moscow that Serbia was given a USD 800mn loan, that will be used for infrastructure projects. Milan Bacevic (Tanjug, file) RTS Tanjug

Another Russian loan expected to be approved

The loan should have an interest of less than six percent and a 7-year deadline for payment.

The first tranche, USD 300 million, will be available by the end of the year, Bačević told Serbia's public broadcaster RTS.

He specified that the money would go toward Serbia's state budget.

Minister of Finance Mlađan Dinkic said in the parliament on Friday the sale of eurobonds secured USD 750 million and enough money in the budget until May 2013, adding that the Russian USD 1 billion loan would cover the entire 2013.

Last week, it was announced in Moscow that Serbia was given a USD 800mn loan, that will be used for infrastructure projects.