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A:
UAE, Serbia sign loan agreement
Belgrade/Abu Dhabi,
6 March 2014
Minister of Finance Lazar Krstic and Chairman of the Department for Finance of Abu Dhabi Hamad Al Hurr Al Suwaidi signed today in Abu Dhabi a $1 billion worth loan agreement from the United Arab Emirates (UAE) for the Serbian budget.
Author:
Tanjug
Krstic said that this agreement shows a significant improvement of bilateral relations between the two countries and explained that the loan will open up new opportunities for cooperation and development of economic and trade relations.
The approved funds will support the Serbian economy and open up numerous opportunities for investments for both sides, and contribute to joint projects between the two countries, he said.
Al Suwaidi said that the loan will contribute to the strengthening of cooperation and relations between the UAE and Serbia, serving the interests of both countries and encouraging private and public sector in the UAE to seek investment opportunities in Serbia.
Relations of the UAE and Serbia continue to evolve in different sectors, and today's agreement reflects the efforts of the two countries to further develop cooperation and bilateral relations, he said.
The money will be withdrawn in a single tranche, when the legal conditions for that are created, i.e., when the law is ratified by Serbian parliament, at the beginning of the second quarter of this year, after the parliamentary elections on 16 March.
The approved funds will support the Serbian economy and open up numerous opportunities for investments for both sides, and contribute to joint projects between the two countries, he said.
Al Suwaidi said that the loan will contribute to the strengthening of cooperation and relations between the UAE and Serbia, serving the interests of both countries and encouraging private and public sector in the UAE to seek investment opportunities in Serbia.
Relations of the UAE and Serbia continue to evolve in different sectors, and today's agreement reflects the efforts of the two countries to further develop cooperation and bilateral relations, he said.
The money will be withdrawn in a single tranche, when the legal conditions for that are created, i.e., when the law is ratified by Serbian parliament, at the beginning of the second quarter of this year, after the parliamentary elections on 16 March.
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