Serbia Takes On New Debt to Finance French Rafale Fighter Jet Deal

Finance Minister Sinisa Mali announced that Serbia will take on about 1.9 billion euros of debt from foreign banks in order to fully pay for the purchase of 12 “Rafale” fighter jets from France.

At a session of the Serbian parliament, where the confirmation of contracts for these loans was on the agenda, Mali said that the first two advance payments for that purchase had been paid to the French side.

He stated that Serbia will receive the first “Rafale” at the beginning of 2028, and after that one per month, Serbian media reported.

In August 2024, the Government of Serbia, through the Ministry of Defense, signed a purchase agreement with the French company Dassault Aviation for the purchase of 12 French aircraft and accompanying goods and services, worth 2.7 billion euros.

Used “Rafales,” twelve of them, were previously purchased by the Republic of Croatia. These consist of ten single-seaters and two two-seaters that were previously in service with the French Air Force, and which, according to official information, have about 3.800 flight hours remaining.

The entire purchase deal, which includes aircraft, weaponry, a simulator, and training for pilots and technical personnel, was paid by Croatia in the amount of 1.13 billion euros including VAT.

The aircraft have already been delivered and are in service with the Croatian Air Force.

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