WB in USD 388mn Corridor 10 loan
The World Bank has announced that it will provide a USD 388mn loan to finance the building of 158 kilometers of highway on Corridor 10.
Thursday, 19.02.2009.
15:36
The World Bank has announced that it will provide a USD 388mn loan to finance the building of 158 kilometers of highway on Corridor 10. The World Bank will, with contributions from other international financial organizations and the Hellenic Plan for the Economic Reconstitution of the Balkans, finance 84 km of highway from Prosek to Dimitrovgrad and another 74 km between Leskovac and Levosoj, according to a statement. WB in USD 388mn Corridor 10 loan This is an agreement in principle between the World Bank and Serbia, and the financial details are due to be finalized at the end of April, whereupon the World Bank's Board of Directors will approve the project, pending ratification in the Serbian parliament. All the relevant documents need to be submitted to the Board by May 19. Work on the two sections of highway is due for completion in the next four to five years. Project chief Martin Humphreys from the World Bank said that the institution was grateful for the opportunity to play a leading role in helping the government upgrade its highway infrastructure on key corridors. “The building of this road is expected to significantly contribute to the economic development of the south of Serbia and the whole country and region too,“ said Humphreys in the statement.
WB in USD 388mn Corridor 10 loan
This is an agreement in principle between the World Bank and Serbia, and the financial details are due to be finalized at the end of April, whereupon the World Bank's Board of Directors will approve the project, pending ratification in the Serbian parliament.All the relevant documents need to be submitted to the Board by May 19.
Work on the two sections of highway is due for completion in the next four to five years.
Project chief Martin Humphreys from the World Bank said that the institution was grateful for the opportunity to play a leading role in helping the government upgrade its highway infrastructure on key corridors.
“The building of this road is expected to significantly contribute to the economic development of the south of Serbia and the whole country and region too,“ said Humphreys in the statement.
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