English reader on

TEXT 13 

 

Germany plans DEM 900 mln loan for coal sector 

 

Germany plans to provide Russia with a DEM 900 million loan de-

signed to finance purchases of specialized equipment for the technological 

retooling of Russian coal mines and open-cast pits, the Russian news 

agency RIA-Novosti reported. The loan is to be repaid with reliance on 

Russian deliveries of coal to Germany, the agency said. According to the 

Russian president's press secretary, a framework agreement has been 

drafted between Russia's Fuel and Power Ministry and the government of the 

federal republic of Northern Rhine-Westphalia, which is expected to be 

signed in the course of the forthcoming country leaders meetings. Under the 

draft loan agreement, the first tranche of DEM 170 million is to be provided 

to Kuzbass coal-mining enterprises. Further, similar loans will be granted 

the coal mines and pits of the Komi Republic, Sakha (Yakutia), and the 

Rostov region, the agency says