Russia lends USD 800 million to Serbia to renovate railway infrastructure

Russia's government has agreed to grant Serbia a USD 800 million five-year credit line for infrastructure projects at an annual interest of 4.1 percent.

This was announced on Friday in Moscow by Russian Finance Minister Anton Siluanov.

The government considered the question of granting the loan to Serbia today, Siluanov said.

This loan, a sum of USD 800 million open for a period of five years, is intended for infrastructure projects - the construction of new railway lines, repairs, buying locomotives and more, he added during a press conference at the Russian parliament.

The news conference was called after the approval of the country's 2013 budget.

Siluanov said that the credit line would be opened starting with the current year and the annual interest rate was 4.1 percent, the RIA Novosti news agency reported.