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Sun 28 Oct 2012 10:00 AM

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Kuwait loans Serbia $32.5m for rail project

Gulf country's ambassador says Kuwait helping to fund construction of Belgrade station

Kuwait loans Serbia $32.5m for rail project

Kuwait has granted Serbia a loan of EUR25m ($32.5m) for the construction of a railway station in Belgrade, it has been reported.

Serbia's Tanjug newspaper said the Kuwait Fund for Arab Economic Development had issued the loan, quoting Kuwaiti Ambassador Fawzi Abdulaziz Ahmad Al-Jasem.

The money will be used for the construction of the main railway station Prokop in Belgrade, he told the paper.

The diplomat was quoted as saying that a Kuwaiti delegation would come to Belgrade in late November or early December to sign a second loan agreement.

The newspaper reported that the Kuwaiti fund officials have also indicated that it could grant loans for the third, and fourth phase of the project if Serbia needs them.

He added that many Kuwaiti businessmen were going to Serbia to see what possibilities for cooperation the country offers.

Al-Jasem described as positive the Serbian government's commitment to strengthening the relations with the Arab world, and stressed that Kuwait wants the same.

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