EIB bypass loan worth EUR 60mn

Serbia's public roads company has been given a EUR 60mn loan by the European Investment Bank (EIB), to build the Belgrade bypass.

Izvor: Beta

Friday, 19.10.2007.

17:05

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Serbia's public roads company has been given a EUR 60mn loan by the European Investment Bank (EIB), to build the Belgrade bypass. The contract on the loan for the contraction works on the Batajnica – Dobanovci 9.7 km stretch of the road, was signed by the Putevi Srbije director, Branko Jocic, and EIB deputy CEO Dario Skanapjeko. EIB bypass loan worth EUR 60mn The loan was taken out for a period of 25 years, with the grace period of five years. Minister in charge of the National Investment Plan (NIP), Dragan Djilas, signed the contract on behalf of the Serbian government, which is providing guarantees for the deal. Djilas said afterwards the city of Belgrade will also help finance the bypass, and expressed hope that the next year will see an institutional framework for the works. "In the first half of 2007 NIP approved RSD 720mn for the bypass, and then added another RSD 300mn," he said, and added the plan is to set aside RSD 100mn more for the purpose by the end of the year. Jocic said after the event that the road was worth EUR 452mn, with the first phase of construction works set to end in 2008. But he did not give any details about when the bypass is expected to be complete. Jocic also announced that his company will on November 15 sign another international financing contract for the bypass, a part of the E75 highway. "This loan will be worth EUR 55mn, and will be approved by the European Bank for Reconstruction and Development [EBRD]," he clarified. Meanwhile, Skanapjeko said that his bank, EIB, has signed a total of 22 loan contracts in Serbia since 2001, worth EUR 1.4bn.

EIB bypass loan worth EUR 60mn

The loan was taken out for a period of 25 years, with the grace period of five years.

Minister in charge of the National Investment Plan (NIP), Dragan Đilas, signed the contract on behalf of the Serbian government, which is providing guarantees for the deal.

Đilas said afterwards the city of Belgrade will also help finance the bypass, and expressed hope that the next year will see an institutional framework for the works.

"In the first half of 2007 NIP approved RSD 720mn for the bypass, and then added another RSD 300mn," he said, and added the plan is to set aside RSD 100mn more for the purpose by the end of the year.

Jocić said after the event that the road was worth EUR 452mn, with the first phase of construction works set to end in 2008. But he did not give any details about when the bypass is expected to be complete.

Jocić also announced that his company will on November 15 sign another international financing contract for the bypass, a part of the E75 highway.

"This loan will be worth EUR 55mn, and will be approved by the European Bank for Reconstruction and Development [EBRD]," he clarified.

Meanwhile, Skanapjeko said that his bank, EIB, has signed a total of 22 loan contracts in Serbia since 2001, worth EUR 1.4bn.

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