Loan promised by Russia could be smaller than US$500m

The loan promised by Russia to Moldova may be smaller than US$500 million, Russian First Deputy Prime Minister Igor Shuvalov announced at a meeting with Moldova's Prime Minister Vlad Filat, Info-Prim Neo reports, quoting the Government's press service. The communique does not specify the reason. Vlad Filat said the most important thing is that the promised support be offered. “It is support for Moldova and its people, not for the present or former government,” he said. Igor Shuvalov reconfirmed Russia's readiness to provide the loan, saying the exact sum and conditions are yet to be determined. At the meeting with Vlad Filat, Russian Deputy Prime Minister and Minister of Finance Alexei Cudrin said Russia's state budget for this year includes US$150 million intended for Moldova. He stressed that the loan granting process was stopped at the request of the former administration of Moldova. “We discuss such issues according to economic, not political criteria,” he said. Vlad Filat and Alexei Cudrin agreed to resume the negotiations on the provision of the loan in the near future. Vlad Filat underlined the necessity of developing the commercial and economic relations. “The bilateral trade is declining. The crisis is also to blame, but it is not the only reason. We must work to remove the other obstacles,” the Prime Minister said, stressing that Moldova is open for Russian investments and that the creation of an attractive business environment is one of the new Government's priorities. Igor Shuvalov and Alexei Cudrin form part of the Russian delegation to the CIS summit.