Serbia receives USD 1 billion from UAE with three percent interest
Belgrade, 11 September 2022 (MIA) – Serbia’s President Aleksandar Vučić, who is paying an official visit to the United Arab Emirates, said on Sunday that Finance Minister Sinisha Mali has signed an agreement with the UAE according to which Serbia will receive a loan of USD 1 billion, with three percent interest, MIA’s Belgrade correspondent reports.
“Had we gone to the financial market, it would have cost us at least 2.5 times more. This agreement is like a gift, and a huge support to Serbia,” Vučić told TV Pink.
“In January, we have old loan obligations that we have to pay back, and we have to buy a lot of gas and electricity, “ Vučić said, adding that the state provides full liquidity and solvency with that money.
During his visit to Abu Dhabi, Vučić discussed with Sheikh Mohammed Bin Zayed Al Nahyan the potential investments of the Emirates in Serbia, as well as the energy crisis, whereby nine agreements were signed between the two countries.
He said the delegation also includes people from the military industry, because the Emirates are interested in many Serbian products.
“We can literally sell three times the production now for the next 30 years. Everyone wants to buy ammunition, grenades, bombs, everything we make,” he added.
He said Sheikh Mohammed Bin Zayed Al Nahyan was a close friend of (French President) Emmanuel Macron, and (German Chancellor Olaf) Scholz will be paying a visit in six days, adding that the Sheikh was one of the most powerful people in the world who respects Serbia.
