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A:
Loan agreements of €160 mn signed
Belgrade,
21 April 2010
Finance Minister Diana Dragutinovic signed loan agreements totalling €160 million with three commercial banks.
According to a statement issued by the Finance Ministry, the signing of these agreements is in line with the 2010 Budget Law. The funds will be used to finance the state budget deficit.
Under the agreements signed, Marfin Bank Belgrade approved €100 million, Erste Bank €40 million and Vojvodjanska Banka €20 million.
These are five year loans to be paid in 48 equal instalments with a one year grace period.
These interest rates are currently the most favourable ones in the market.
The interest rate approved by Erste Bank is one month Euribor plus 4.25% annually, while Marfin and Vojvodjanska Banks offer one month Euribor plus 4.35%.
The loan agreements were signed on the basis of the Law on borrowing of the Republic of Serbia, adopted by parliament on 26 March this year.
Under the agreements signed, Marfin Bank Belgrade approved €100 million, Erste Bank €40 million and Vojvodjanska Banka €20 million.
These are five year loans to be paid in 48 equal instalments with a one year grace period.
These interest rates are currently the most favourable ones in the market.
The interest rate approved by Erste Bank is one month Euribor plus 4.25% annually, while Marfin and Vojvodjanska Banks offer one month Euribor plus 4.35%.
The loan agreements were signed on the basis of the Law on borrowing of the Republic of Serbia, adopted by parliament on 26 March this year.
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