Russia Approves $1.0 Bln Loan to Serbia - Media

“Now it is only a question of ironing out the technical details towards carrying out this project. I expect [Serbian President] Boris Tadic and [Russian President] Dmitry Medvedev to discuss Serbia’s appeal for these funds and together find the best way for them to be used in Serbia,” b92 (www.b92.net) quoted Russian ambassador to Serbia Alexander Konuzin as saying. Medvedev is paying a one-day visit to Serbia on Tuesday.

Russian Finance Minister Alexei Kudrin has said that Moscow will provide Serbia with up to $350 million to finance the Balkan country’s gaping budget deficit and a further $650 million for major infrastructure projects, Serbian daily Vecernje Novosti (www.novosti.rs) reported earlier this month. The part of the funds that will be earmarked for bridging the budget gap is likely to be disbursed this year, while the portion for infrastructure financing will be made available next year, Kudrin said.

($=0.6684 euro)