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Serbia hopes to receive one-billion-euro credit from Russia

October 29, 2012, 16:14 UTC+3
800-million-dollar Russian credit which was earlier granted to Serbia would be spent for the initial purpose of modernizing and developing Serbian railways
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BELGRADE, October 29 (Itar-Tass) — Serbia’s Construction and Urban Planning Minister Velimir Ilic on Monday expressed the hope that Russia would grant a one-billion-euro credit to Serbia for supporting the country’s next year budget.

“At present, we are involved in credit talks and we hope to get the loan next year,” Ilic said. He emphasized that an 800-million-dollar Russian credit which was earlier granted to Serbia would be spent for the initial purpose of modernizing and developing Serbian railways.

“We expect negotiations on railroad credit to end in the next few days,” Ilic went on to say. He added that the first stage would include the construction of the second stage of the Belgrade-Pancevo rail route. The Russian funds will also be used to build the Valevo-Loznica railway, revamp the Belgrade-Bar section and purchase new Russian-made trains.

However, Russian Finance Minister Anton Siluanov said last Friday that it was too early to talk about granting a credit to Serbia. “We are planning to meet Serbian finance minister in the near future,” he said.

 

 

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