EBRD finances infrastructure, transport in Kragujevac

The European Bank for Reconstruction and Development (EBRD) is financing critical upgrades to the municipal infrastructure and urban transport in Kragujevac.

Source: B92

The EBRD announced on Wednesday it is extending a senior loan of up to EUR 15 million to Kragujevac in two tranches for procurement of new solid waste bins, containers and waste collection trucks as well as new streets construction and refurbishment works, and for financing the construction of a new city bus terminal.

The bank said in a statement that Kragujevac is an important industrial and trading center in Serbia, and is "in critical need to modernize its municipal infrastructure and improve the sustainability of its services."

The loan is "addressing these challenges and also supporting the city in finding opportunities to increase private sector participation in municipal projects."

"Total grant funded post-signing support will be provided in an amount of EUR 840,000 including funding to support the preparation of tender documents and the tendering process which has been provided by Germany," the statement said.

Since the start of its operations in Serbia, the EBRD has invested over EUR 4 billion in over 190 projects across the country.

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