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Funds from Russian loan to be available in May
Belgrade,
11 April 2013
Minister of Finance and Economy Mladjan Dinkic said that the funds from the loan which the Russian Federation approved to Serbia will be available in a month and a half, and will be used to pay off a part of Serbia’s debt to the London Club of Creditors.
In a statement to the daily Blic, Dinkic said that in the presence of prime ministers of Serbia and the Russian Federation Ivica Dacic and Dmitry Medvedev respectively the Agreement between the governments of Serbia and Russia on approving a state loan worth $500 million for support to the Serbian budget was signed yesterday in Moscow.
He specified that the loan was approved for a 10-year period, with a two-year grace period and a fixed interest rate of 3.5%, and added that the money is not needed to finance the current budget, due to the fact that by selling Euro-bonds Serbia has already secured money for functioning of the state.
The Minister underlined that at a meeting with the Prime Minister of Russia, the Serbian state delegation put forward a proposal for Russia to increase export quotas for cars, sugar, cheese and cigarettes manufactured in Serbia, and Medvedev announced further consultation on this matter.
Dinkic said that an agreement was reached that Serbian companies take part in financing the construction of a distribution centre in Moscow, which would store food, furniture and other products from our country.
In addition, the Russian Sberbank has announced that this year it will invest €700 million in our country, of which a portion of the funds is intended for liquidity loans to firms that export to Russia.
He specified that the loan was approved for a 10-year period, with a two-year grace period and a fixed interest rate of 3.5%, and added that the money is not needed to finance the current budget, due to the fact that by selling Euro-bonds Serbia has already secured money for functioning of the state.
The Minister underlined that at a meeting with the Prime Minister of Russia, the Serbian state delegation put forward a proposal for Russia to increase export quotas for cars, sugar, cheese and cigarettes manufactured in Serbia, and Medvedev announced further consultation on this matter.
Dinkic said that an agreement was reached that Serbian companies take part in financing the construction of a distribution centre in Moscow, which would store food, furniture and other products from our country.
In addition, the Russian Sberbank has announced that this year it will invest €700 million in our country, of which a portion of the funds is intended for liquidity loans to firms that export to Russia.
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