Serbia gets USD 1 billion loan from the United Arab Emirates - Lazar Krstic signs loan agreement

Serbian Finance Minister Lazar Krstic and the president of the Abu Dhabi Secretariat of Finance, Hamad al Hur al Suvaidi, signed today in Abu Dhabi an agreement on a USD 1 billion loan from the United Arab Emirates for the budget of Serbia. The Abu Dhabi Secretariat of Finance has announced that the loan "will contribute to the strengthening of cooperation and relations between the UAE and the Republic of Serbia, serving the interests of both countries and encouraging both private and public sector in the UAE to seek investment opportunities in Serbia".

After signing aforementioned agreement, Al Suvaidi said that "the relations between the United Arab Emirates and Serbia continue to grow across various sectors".

Serbian Finance Minister Lazar Krstic also said that the loan agreement reflected "a significant growth of bilateral relations between the two countries".

The Serbian government yesterday approved the loan agreement with the United Arab Emirates. This loan will be granted with an annual interest rate of 2 percent and 10-year repayment period.

According to Krstic, there are no conditions as to how to use these funds.

Ministarstvo finansija Republike Srbije

Lazar Krstic

Abu Dhabi

Hamad al Hur al Suvaidi

budget 2014

loan from the UAE

loan from the United Arab Emirates

loan from the Emirates

loan for the budget