Germany writes off 25 Million euros of our country’s debt

Upon the initiative by Mr. Bozidar Djelic, Minister of Finance and Economy, addressed to the countries represented in the Paris Club of Creditors, relative to the partial writing off the Serbia and Montenegro debt by re-allocating the considered funds to the improvement of the energetic stability and environmental protection operations (creation a special purpose Fund), the German Finance Ministry responded in favor of writing off of the debt in the amount of 25 Million euros, and their transfer to the said fund.

The activity of the Fund for the environmental protection and the energetic efficiency was determined by the agreement between the German Federal Ministry for the economic cooperation, the Development Agency and our country institutions, created for these special purposes.

By granting this debt cutting, the German Government pursues it’s policy of supporting political and economical development of our country. The Ministry of Finance and Economy expresses it’s gratitude to the Government and people of Germany for their comprehension and the help provided to Serbia, and expects positive responses to the initiative from the other Paris Club of Creditors as well.