Minister says Corridor 10 given priority

Economy Minister Mlađan Dinkić says a new WB loan will be sought in September for the Corridor 10 construction.

Izvor: Beta

Sunday, 10.08.2008.

12:38

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Economy Minister Mladjan Dinkic says a new WB loan will be sought in September for the Corridor 10 construction. "Current estimates show that some EUR 1.7bn are needed to finalize the Corridor 10 works, and a part of this money will be secured from World Bank and European Investment Bank loans," Dinkic told Beta news agency in an interview. Minister says Corridor 10 given priority "I also plan to travel to Washington and to try and close this loan by the end of the year so that it could be used starting 2009," the G17 Plus leader, who is also one of the deputy premiers in the government, continued. Dinkic said that remaining privatization funds, some EUR 250mn, can be used as another source of financing for the highway's construction. More options include borrowing from commercial banks and issuing of state bonds. However, he said the latter would come as the last resort, bearing in mind the current unfavorable interest rates. Dinkic also said that a termination of the Horogos-Pozega concession contract agreed to by both sides would enable for a swift start of construction works on a Corridor 10 stretch from the Hungarian border to Novi Sad. "The concession contract is dead and we must find ways out of this situation in order to start with standard budget financing," he said. Dinkic announced that Corridor 10 will be a priority, including the Belgrade bypass, and that the National Investment Plan will be revised in order to include national and regional infrastructure. "There will be no justification for the Serbian government if Corridor 10 is not finished in the next three and a half years. It's a shame this it was done from 2000 until today," Dinkic was quoted as saying. In the same interview, the minister voiced his support for seeking a new arrangement with the International Monetary Fund, IFM, "if Finance Minister Diana Dragutinovic proposes this". Mladjan Dinkic (Beta)

Minister says Corridor 10 given priority

"I also plan to travel to Washington and to try and close this loan by the end of the year so that it could be used starting 2009," the G17 Plus leader, who is also one of the deputy premiers in the government, continued.

Dinkić said that remaining privatization funds, some EUR 250mn, can be used as another source of financing for the highway's construction.

More options include borrowing from commercial banks and issuing of state bonds. However, he said the latter would come as the last resort, bearing in mind the current unfavorable interest rates.

Dinkić also said that a termination of the Horogoš-Požega concession contract agreed to by both sides would enable for a swift start of construction works on a Corridor 10 stretch from the Hungarian border to Novi Sad.

"The concession contract is dead and we must find ways out of this situation in order to start with standard budget financing," he said.

Dinkić announced that Corridor 10 will be a priority, including the Belgrade bypass, and that the National Investment Plan will be revised in order to include national and regional infrastructure.

"There will be no justification for the Serbian government if Corridor 10 is not finished in the next three and a half years. It's a shame this it was done from 2000 until today," Dinkić was quoted as saying.

In the same interview, the minister voiced his support for seeking a new arrangement with the International Monetary Fund, IFM, "if Finance Minister Diana Dragutinović proposes this".

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