Q:
A:
Serbia, Russia to sign agreement on clearing debt
Belgrade,
26 December 2006
Serbian Minister of international Economic Relations Milan Parivodic announced today that Serbia and Russia will soon sign the agreement on the clearing debt in Moscow.
Vlatko Sekulovic, left, and Milan Parivodic
Author:
Beta
At a session of the International Economic Relations Board held a the Serbian Chamber of Commerce, Parivodic recalled that the agreement envisages that Serbia's debt for the gas it received from Russia will be settled, whereas €100 million will be invested in the reconstruction of turbines at Djerdap hydroelectric power plant.
He added that works on the power plant should begin soon and reconstruction will be completed by end-2009 and early-2010.
According to Parivodic, the agreement envisages that Russia's $288 million debt towards Serbia be settled with the same terms as before. The terms include the reconstruction of the Djerdap power plant, Vinca Nuclear Institute and the settling of Serbia's $188 million debt for the gas.
Speaking about the gas pipeline, for whose construction Serbian and Russian representatives signed the Memorandum of Understanding on December 20 in Moscow, Parivodic said that the construction will have manifold benefits for Serbia since gas will be delivered through its territory to Italy and Croatia.
Serbian State Secretary for International Economic Relations Vlatko Sekulovic said that though the very fact that the memorandum has been signed is a good one, it should not nevertheless be forgotten that much remains to be done.
"I believe it is a great step ahead, but Serbia also has to keep up the pace. The agreement will enable energy safety to Serbia which it never had before and create the possibility of gathering additional revenue from the passage of gas through our country", said Sekulovic.
He added that works on the power plant should begin soon and reconstruction will be completed by end-2009 and early-2010.
According to Parivodic, the agreement envisages that Russia's $288 million debt towards Serbia be settled with the same terms as before. The terms include the reconstruction of the Djerdap power plant, Vinca Nuclear Institute and the settling of Serbia's $188 million debt for the gas.
Speaking about the gas pipeline, for whose construction Serbian and Russian representatives signed the Memorandum of Understanding on December 20 in Moscow, Parivodic said that the construction will have manifold benefits for Serbia since gas will be delivered through its territory to Italy and Croatia.
Serbian State Secretary for International Economic Relations Vlatko Sekulovic said that though the very fact that the memorandum has been signed is a good one, it should not nevertheless be forgotten that much remains to be done.
"I believe it is a great step ahead, but Serbia also has to keep up the pace. The agreement will enable energy safety to Serbia which it never had before and create the possibility of gathering additional revenue from the passage of gas through our country", said Sekulovic.
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