Serbia to receive $300 mln immediately after signing loan agreement - Siluanov
MOSCOW. April 10 (Interfax) - Serbia can receive a first tranche of $300 million from Russia immediately after signing the loan agreement in Moscow on Wednesday, Finance Minister Anton Siluanov told journalists.
"Right now we will sign it, and they will receive the money immediately, it's earmarked in the budget," he said, adding that the first loan tranche would equal $300 million.
Russia will provide Serbia a loan totaling $500 million.
Moscow and Belgrade had earlier reached agreement on the loan in order to fund Serbia's budget deficit. The issue of signing the loan agreement was discussed at a Russian government meeting on Thursday.
The initial discussions in January 2013 were for a loan of $1 billion to Serbia. However, the Serbian side later reduced that request to $500 million.
Russia previously provided a loan of $200 million to Serbia to shore up the budget. In addition, in January 2013, the two countries signed an agreement on a five-year loan of $800 million to Serbia to finance infrastructure projects. The loan was provided at 4.1% annual interest.