Russia grants loan to prop up Serbian budget

An agreement on a Russian loan worth USD 500mn aimed at supporting the Serbian state budget was signed on Wednesday in Moscow.

Izvor: Tanjug

Wednesday, 10.04.2013.

14:24

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MOSCOW An agreement on a Russian loan worth USD 500mn aimed at supporting the Serbian state budget was signed on Wednesday in Moscow. The first tranche worth USD 300mn will be approved soon and the second will be available after Serbia has signed a stabilization agreement with the International Monetary Fund (IMF). Russia grants loan to prop up Serbian budget The agreement was signed by Serbian and Russian Finance Ministers Mladjan Dinkic and Anton Siluanov in the presence of Russia and Serbia’s Prime Ministers Dmitry Medvedev and Ivica Dacic. According to Siluanov, the loan has a ten-year deadline for payment and an interest rate of 3.5 percent. He stressed that the first tranche would be approved very soon. “Yes, we have enough funds in the budget, we are signing it today and we are putting it at your disposal,” he explained. “As far as the second tranche is concerned, there is a condition here – it will be approved once Serbia has signed a stabilization agreement with the IMF,” the Russian minister concluded. Tanjug

Russia grants loan to prop up Serbian budget

The agreement was signed by Serbian and Russian Finance Ministers Mlađan Dinkić and Anton Siluanov in the presence of Russia and Serbia’s Prime Ministers Dmitry Medvedev and Ivica Dačić.

According to Siluanov, the loan has a ten-year deadline for payment and an interest rate of 3.5 percent. He stressed that the first tranche would be approved very soon.

“Yes, we have enough funds in the budget, we are signing it today and we are putting it at your disposal,” he explained.

“As far as the second tranche is concerned, there is a condition here – it will be approved once Serbia has signed a stabilization agreement with the IMF,” the Russian minister concluded.

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