UAE-Serbia signs agreement on $1 billion low-interest loan

The United Arab Emirates and Serbia have agreed to lend Belgrade $1 billion under favorable conditions. Serbia is set to receive $ 1 billion with just 3% interest as part of the deal "under incredible conditions." Vučić said that the loan "is practically a gift." "Our old loans that we have to pay back are due as early as January. Now we're securing full liquidity along with the solvency that we have," he said. According to the Serbian government's website, the minister said the move would improve ties between the two countries. "Relations between Serbia and the UAE deepened over time, like trust is built, which brings a lot of benefit to Serbia," said Selaković. BKM/ Expat Media
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