EBRD approves new EUR 150mn loan

Finance Minister Diana Dragutinović and EBRD Director Thomas Maier signed an agreement on Tuesday for a EUR 150mn loan to build two sections of Corridor 10.

Izvor: Tanjug

Wednesday, 23.09.2009.

10:46

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Finance Minister Diana Dragutinovic and EBRD Director Thomas Maier signed an agreement on Tuesday for a EUR 150mn loan to build two sections of Corridor 10. The sections in question are from Pirot to Dimitrovgrad and from Crna Reka to Ciplik. EBRD approves new EUR 150mn loan After the signing of the agreement, Dragutinovic said that it was an extremely attractive loan with a term of 15 years, a four-year grace period, and at an interest rate of the Euro Interbank Offered Rate plus one percent annually, giving a total of two percent. The minister stated that Serbia had secured about EUR 1.2bn for Corridor 10 construction from foreign sources, intended for the sections from Belgrade to the Hungarian border and from Belgrade via Nis to the Bulgarian border, as well as from Nis to Macedonia. Maier said that the signing of the agreement gave Serbia its second loan from the European Bank for Reconstruction and Development (EBRD) in 2009, with a EUR 100mn loan granted to Serbian Railways at the start of the year. EBRD representatives stated that loans from this international financial institution would not only contribute to infrastructure development, but to Serbia’s overall economic recovery too. Yesterday's signing ceremony (FoNet)

EBRD approves new EUR 150mn loan

After the signing of the agreement, Dragutinović said that it was an extremely attractive loan with a term of 15 years, a four-year grace period, and at an interest rate of the Euro Interbank Offered Rate plus one percent annually, giving a total of two percent.

The minister stated that Serbia had secured about EUR 1.2bn for Corridor 10 construction from foreign sources, intended for the sections from Belgrade to the Hungarian border and from Belgrade via Niš to the Bulgarian border, as well as from Niš to Macedonia.

Maier said that the signing of the agreement gave Serbia its second loan from the European Bank for Reconstruction and Development (EBRD) in 2009, with a EUR 100mn loan granted to Serbian Railways at the start of the year.

EBRD representatives stated that loans from this international financial institution would not only contribute to infrastructure development, but to Serbia’s overall economic recovery too.

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