Negotiations on USD 800 million worth of Russian loan for infrastructure resumed

Negotiations on approval of a tranche of the Russian loan intended for infrastructure projects in Serbia in amount of USD 800 million were resumed today in Moscow, people at the Ministry of Finance told Beta agency.

Representatives of the Serbian Ministry of Infrastructure are going to present to Russian negotiators the projects that should be financed, and these meetings will also be attended by representatives of the Ministry of Finance.

The intention of the authorities in Serbia is to use a tranche of the Russian loan to finance completion of Valjevo-Loznica railway, renovation of Belgrade-Bar railway, all the way to the border with Montenegro, as well as completion of construction of the Belgrade railway junction. Representatives of the Russian railway company were staying in Belgrade in late 2010 since that company should participate in renovation of the railway infrastructure in Serbia.

Negotiations on the Russian loan worth a total of USD 1 billion commenced in late October 2009 and, so far, a tranche of USD 200 million has been withdrawn as a support to the republic budget.