Serbian Govt Approves USD 1B UAE Loan

World | March 6, 2014, Thursday // 14:51| Views: | Comments: 1
  • Send to Kindle

The government of Serbia approved unanimously the USD 1B loan from the United Arab Emirates late on Wednesday.

Owing to the loan, Serbia will save USD 40M annually, or approximately USD 400M over the period of ten years, Finance Minister Lazar Krstic pointed out, Serbian Tanjug reports.

The loan carries an interest rate of 2%, its repayment begins six months from the date of withdrawal and the grace period for principal repayment is ten years.

The money will be transferred to Serbia after the Serbian parliament ratifies the loan arrangement, probably at the beginning of the second quarter of 2014, Tanjug informs.

The loan arrangement with the UAE will enable Serbia to save around EUR 300M, Serbian First Deputy Prime Minister Aleksandar Vucic has said, noting that he expects at least part of the loan to be invested into production.

Finance Minister Krstic said that the best options for using the loan are being discussed, with particular consideration of refinancing some of the expensive loans, or at least repaying the principal of the loans.

World » Be a reporter: Write and send your article
Tags: Serbia, UAE, loan, United Arab Emirates, Lazar Krstic, loan arrangement, Aleksandar Vucic All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (1)
WALKINTON - 18 Mar 2014 // 18:41:16

Hello every one please i will like to talk about the goodness of GOD in my life after so many months of trying to get a loan on the internet and was scammed the sum of $3,800 i became so desperate in getting a loan from a legit lender online then a friend told me that there is a legit loan company where he got his loan fast and easy without any stress so he introduced me to a woman called Mrs randy who is the CEO doris FINANCE LOAN COMPANY, So i applied for a loan sum of ($60,000.00) with low interest rate so the loan was approved and deposited into my bank account that was how i was able to get my loan, so i was able to pay off my bills. i am advising every one who is interested in getting a loan fast and easy to kindly contact them via as well, So thanks as you read the greatest testimony of my life story and thanks be to GOD almighty for his goodness upon my life.I am Marian mark by name. EMAIL : WALKINTON@BLUMAIL.ORG

Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria