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Russia approves $800 mln loan to Serbia for financing infrastructure projects

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Serbian Prime Minister Mirko Cvetkovic and Russian Minister of Finance Alexei Kudrin agreed on the necessity to speed up talks regarding the realisation of an $800 million loan which Russia approved to Serbia for financing infrastructure projects.

During a meeting in Washington at World Bank headquarters, Cvetkovic and Kudrin said that talks will be held at a technical level, while infrastructure projects, primarily in the railway sector, will be financed in stages.

Prime Minister Cvetkovic stressed that Serbia ascribes significant importance to energy agreements signed with Russia, adding that all elements of the agreement will be realised as envisaged.

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Recalling that the Serbian-Russian relations are characterized by a strategic partnership, traditional friendship and exceptional economic cooperation, he underlined that Serbia is keen on increasing the trade volume, especially in terms of agricultural products.

Kudrin highlighted that the relations with Serbia are a priority to Russia, adding that when it comes to the sector of finance and economy, which he is leading, Serbia can count on any form of assistance and cooperation from Russia.

Over the last two days, Cvetkovic, who is in Washington attending the spring session of the IMF and the World Bank, met with officials from these two financial institutions and reached agreement on details of future cooperation.

Cvetkovic will also meet with important American businessmen and hold a lecture at the prestigious Heritage Foundation.

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The Serbian delegation also comprises Deputy Prime Minister Bozidar Djelic and Governor of the National Bank of Serbia Dejan Soskic.


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