Serbia, Russia to resume USD 800mn infrastructure loan talks in June.

By bne IntelliNews May 31, 2010
Infrastructure minister Milutin Mrkonjic said the talks over USD 800mn loan from Russia, earmarked for infrastructure projects, will be resumed on June 1. In a statement to Tanjug news agency, Mrkonjic said that projects have been submitted to the Russian party. In line with Russia's request, Serbia has proposed four railway projects to be financed with USD 800mn. According to Mrkonjic, the works on the four railway projects are expected to kick off in June. Last year, Russia agreed to lend USD 1bn to Serbia, of which USD 200mn were earmarked for covering the budget gap. According to earlier reports, the talks on the infrastructure loan slowed down because Moscow wanted all the funds to go for railway infrastructure projects, while Serbia wanted to use part of the funds to finance the construction of Belgrade ring road.

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