"Belgrade subway to boost development"

Deputy PM Božidar Đelić says the signing of the statement of intent on the project of construction of the Belgrade subway will boost Serbia's development.

Izvor: Tanjug

Friday, 18.11.2011.

19:39

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Deputy PM Bozidar Djelic says the signing of the statement of intent on the project of construction of the Belgrade subway will boost Serbia's development. Without a strong Belgrade there can be no strong Serbia, Djelic said after the signing of the document with State Secretary of the French Ministry of Economy, Finance and Industry Pierre Lellouche and Belgrade Mayor Dragan Djilas. "Belgrade subway to boost development" The capital city will become one of the engines of the dynamic development of the country with the help of the metro construction project, he said. Djelic said that he expects that the construction of the subway will not burden the budget of Serbia because the Serbian government has decided to support the project. It will also represent a chance for Serbian companies, engineers and construction companies, he added. The statement will serve as a basis for a feasibility study which France will finance with EUR 3.8 million, Djelic said. France has set aside the above-mentioned funds for the feasibility study and gave guarantees for the construction of the first subway line, Djelic pointed out and specified the financial conditions of the loan, which are 15-year repayment period, 5-year grace period and 5 percent annual interest rate. These financial conditions, according to Djelic, are comparable with the best conditions that Serbia receives from international financial institutions. Today's signing is a start of a new era of stronger cooperation between Serbia and France, Djelic said. The signing of the statement of intent was also attended by Prime Minister Mirko Cvetkovic, French Ambassador to Serbia Francois Xavier Denio and members of city government. (Beta)

"Belgrade subway to boost development"

The capital city will become one of the engines of the dynamic development of the country with the help of the metro construction project, he said.

Đelić said that he expects that the construction of the subway will not burden the budget of Serbia because the Serbian government has decided to support the project.

It will also represent a chance for Serbian companies, engineers and construction companies, he added.

The statement will serve as a basis for a feasibility study which France will finance with EUR 3.8 million, Đelić said.

France has set aside the above-mentioned funds for the feasibility study and gave guarantees for the construction of the first subway line, Đelić pointed out and specified the financial conditions of the loan, which are 15-year repayment period, 5-year grace period and 5 percent annual interest rate.

These financial conditions, according to Đelić, are comparable with the best conditions that Serbia receives from international financial institutions.

Today's signing is a start of a new era of stronger cooperation between Serbia and France, Đelić said.

The signing of the statement of intent was also attended by Prime Minister Mirko Cvetković, French Ambassador to Serbia Francois Xavier Denio and members of city government.

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