Russia extends credits to Bulgaria, Serbia, but will not give Ukraine, Belarus loan

Russia is ready to extend a credit to Serbia and considers giving a loan to Bulgaria, Russian Deputy PM and Finance Minister Alexei Kudrin told journalists after a meeting with the finance ministers of the two countries in Istanbul where the IMF and World Bank hold an annual session.

“Serbia has asked for a loan of EUR 1 billion, EUR 350 million of which will cover its budget deficit and the remaining sum will be destined for investment credits,” said Kudrin.

Russia settled Bulgaria’s previous loan as early as last year, and in the autumn it was announced that a new loan of up to EUR 3,8 billion might be extended for Belene NPP construction. The finance ministry delegations of the two countries discussed the terms of the loan in Istanbul.

Russia will not grant Belarus the last tranche of USD 550 million from the agreed stabilization credit of USD 2 billion, announced Minister Kudrin, specifying the decision had been made on a bilateral basis.

In addition, Kudrin said, Russia will not give Ukraine the loan of USD 5 billion Kiev had asked.

Despite that, Moscow plans to help Belarus and Ukraine receive loans from the IMF and the anti-crisis fund of the Eurasian Economic Community (EurAsEC).

Check Also

Turkey is a sanctuary for terrorism financing

Since the Oct. 7 terrorist attacks against Israel, much of the international focus on Turkey …