Q:
A:
Serbia-Montenegro, Spain sign financial cooperation agreement
Belgrade,
13 June 2005
Serbia-Montenegrin Minister of International Economic Relations Predrag Ivanovic signed today in Madrid an agreement on financial cooperation with Spain concerning a €51 million commodity credit.
The Serbia-Montenegro Information Directorate said that the credit will be paid off within 16 years with an annual interest rate of 1.2 percent and a five-year grace period before payments begin.
Of the whole amount, €1 million is in fact a donation to finance a feasibility study on projects that are to be financed, €45 million is for infrastructure projects in Serbia, and €5 million for a recycling centre in Podgorica.
Loan users are obliged to acquire 70 percent of goods and services from Spain, 15 percent will be for local expenses, and 15 percent for goods and services from other countries.
Serbian Minister of International Economic Relations Milan Parivodic and Montenegrin Minister of International Economic Relations and European Integration Gordana Djurovic were present at the signing of the agreement.
Of the whole amount, €1 million is in fact a donation to finance a feasibility study on projects that are to be financed, €45 million is for infrastructure projects in Serbia, and €5 million for a recycling centre in Podgorica.
Loan users are obliged to acquire 70 percent of goods and services from Spain, 15 percent will be for local expenses, and 15 percent for goods and services from other countries.
Serbian Minister of International Economic Relations Milan Parivodic and Montenegrin Minister of International Economic Relations and European Integration Gordana Djurovic were present at the signing of the agreement.
-
Kostolac, 14 July 2025First solar power plant Petka in Kostolac put into trial operation
-
Belgrade, 11 July 2025Potential for improving cooperation with Belarus in many areas
-
Požega, 5 July 2025Section of Pakovraće - Požega highway officially opened
-
Belgrade, 2 July 2025Technical specifications defined for Serbia-Hungary oil pipeline
-
Belgrade, 30 June 2025IMF confirms Serbia successfully implementing all agreed reforms
-
Belgrade, 27 June 2025Double Taxation Avoidance Agreement with Germany signed
-
Kostolac, 25 June 2025Construction of Kostolac wind farm nearing completion
-
Belgrade, 24 June 2025Government supports request for new postponement of sanctions against NIS
-
Belgrade, 23 June 2025Procedures to facilitate sale of Serbian products to China to be accelerated
-
Belgrade, 21 June 2025Serbia receives first funds under Growth Plan for the Western Balkans