Serbia, Saudi Arabia sign memorandum on project financing

BELGRADE - Serbian Deputy PM and Finance Minister Sinisa Mali and Saudi Arabia's Minister of Tourism Ahmed bin Aqil al-Khateeb signed on Tuesday in Belgrade a MoU in which the Saudi Development Fund expressed interest in providing financing for specific projects in Serbia in the amount of around 200 mln dollars.

The signing of the document was also attended by Serbian President Aleksandar Vucic.

"The conclusion of this MoU will enable the Republic of Serbia to continue to invest in capital projects and, in this way, we will also strengthen economic ties between our countries. This is about a programme for boosting the irrigation infrastructure, a project of power grid operator EMS (Phase 1) and the BIO4 campus in Belgrade," Mali wrote in an Instagram post.

Mali noted that he was glad the two countries continued their cooperation successfully in the wake of his visit to Saudi Arabia at the end of last year and discussions with the ministers of tourism and finance.

"We want to establish a long-term partnership and contribute to implementation and development of major scientific and technical and energy and agriculture projects. We have much space for further cooperation, and this is a good start. We are opening a new chapter!" Mali noted.