World Bank in USD 388mn loan for Corridor 10
World Bank officials and the Serbian government have finished negotiations on financing three sections of the Corridor 10 highway.
Thursday, 11.06.2009.
15:00
World Bank officials and the Serbian government have finished negotiations on financing three sections of the Corridor 10 highway. The project is worth USD 388mn. World Bank in USD 388mn loan for Corridor 10 World Bank project manager Martin Humphreys told a press conference that the loan was going towards the Grabovica-Grdelica, Vladicin Han-Donji Neradovac and Dimitrovgard-Bulgarian border sections of the highway. He added that work on these sections of the highway was expected to begin in mid-November. Humphreys said that the next step was to send all the documents related to the project to the World Bank board of directors for approval, which should happen on July 8, after which the agreement would be signed and submitted to the Serbian parliament for ratification. The loan would be paid back over 20 years, and would include an eight-year grace period and annual interest of 1.6 percent.
World Bank in USD 388mn loan for Corridor 10
World Bank project manager Martin Humphreys told a press conference that the loan was going towards the Grabovica-Grdelica, Vladičin Han-Donji Neradovac and Dimitrovgard-Bulgarian border sections of the highway.He added that work on these sections of the highway was expected to begin in mid-November.
Humphreys said that the next step was to send all the documents related to the project to the World Bank board of directors for approval, which should happen on July 8, after which the agreement would be signed and submitted to the Serbian parliament for ratification.
The loan would be paid back over 20 years, and would include an eight-year grace period and annual interest of 1.6 percent.
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