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. Last Updated: 07/27/2016

Moscow Aid Pledged to Yugoslavia




Russia plans to give Yugoslavia credit worth $150 million to help rebuild the Balkan nation, following NATO's 11-week bombing campaign earlier this year, Finance Minister Mikhail Kasyanov said Tuesday.


"It goes without saying that Russia considers itself to be a donor country [for Yugoslavia]," Kasyanov said at a news conference.


"Russia will soon start giving a bilateral credit to the sum of $150 million for the delivery of different equipment made in Russia to Yugoslavia, especially for electricity utilities," Kasyanov said.


Russia, which suffered a crippling economic crisis in August 1998, is in the middle of negotiations with the International Monetary Fund to receive a $4.5 billion loan to help Moscow pay old debts. Under the deal, Russia hopes to get $1.9 billion in 1999.


Other officials have said Russian companies would focus on rebuilding bridges in Yugoslavia that were destroyed or damaged during the 78 days of NATO airstrikes, which began March 24.


Russia was stridently opposed to NATO's bombing campaign against its Slav, Orthodox Christian kin in Yugoslavia and froze links with the Western military alliance.


The contacts were reopened last Friday after a four-month boycott.