EU grants EUR 200mn budget support loan to Serbia.

By bne IntelliNews July 6, 2010
Deputy PM in charge of EU integrations Bozidar Djelic and the EU Commissioner for Economic and Monetary Policy Olli Rehn signed an agreement on EUR 200mn budget support to Serbia. The loan will be repaid in eight years and will bear around 1% interest rate, Djelic said, adding that Serbia would pay EUR 30mn more if it had taken a commercial loan. The budget support facility will be disbursed in two tranches. The first installment will be drawn either during the summer or in September, while the second is likely to be disbursed by the end of the year. However, in order to withdraw the funds, the Serbian government has to complete the fiscal responsibility law and send it to the parliament for adoption. Commenting on the budget support, Rehn said it was a clear sign of EU's commitment to Serbia.

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