Russian bank's loan to Serbia's state-owned telcom
Sberbank Srbija and Telekom Srbija have a memorandum of cooperation, within the framework of the visit of President Vladimir Putin to Serbia.Source: Beta
The announcement was made by the Russian bank.
The memorandum was initiated with a contract signed by the two companies in December 2018.
Sberbank Serbia is one of the banks that participated in the lending to Telekom. Sberbank Group participated in this loan with 77 million euros, of which Sberbank Srbija's participation was 25 million euros.
This investment is part of the Telekom's broader "Million Plus" campaign, implemented in order to reach over million subscribers to its internet and multimedia services.
Telecom General Director Predrag Culibrk said the memorandum envisages improving investments that benefit both companies, but also Serbia's and Russia's economies, through exchange of information, identification of investment projects and opportunities, and expert meetings.