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EBRD approves €73 million loan for reconstruction of Belgrade-Novi Sad highway
Belgrade,
20 May 2005
President of the European Bank for Reconstruction and Development (EBRD) Jean Lemierre and head of the Serbian Road Directorate Branko Jocic have signed a loan agreement worth nearly €73 million for the reconstruction of the Belgrade-Novi Sad highway and the Beska bridge.
Lemierre, left, and Dinkic sign the agreement on the support to the project which will be carried out by the Republic of Serbia and the EBRD
Author:
Fonet
Serbian Minister of Finance Mladjan Dinkic said after the signing that €53 million will be used to build a new bridge near Beska, while the rest is planned for the reconstruction of the highway.
According to Dinkic, the loan is particularly important having in mind the fact that the project will strengthen the Serbian section of Corridor 10, which will pave the way for increased exchange of goods between Serbia and the rest of Europe.
He recalled that the EBRD so far invested nearly $780 million and attracted a further $1.2 billion in other investment.
Dinkic confirmed that he was assured by EBRD officials that the EBRD will support Serbia’s railways, energy sector and banking sector.
Lemierre said that the Beska bridge and Belgrade-Novi Sad section of the highway are crucial for the future of Serbia, noting that the agreement was reached thanks to the understanding of the Council of Ministers of Serbia-Montenegro and the Serbian government, with the support of the European Investment Bank (EIB). He noted that the loan agreement was also supported by the Canadian government.
Noting that he visited Serbia-Montenegro in February this year, the EBRD President said that he noticed changes, even in mood, which he explained by the fact that the country received a positive Feasibility Study and reached an arrangement with the International Monetary Fund (IMF).
The agreement on guarantees between Serbia-Montenegro and the EBRD was signed by Serbia-Montenegrin Minister of Human and Minority Rights Rasim Ljajic and Lemierre, while Dinkic and Lemierre signed the agreement on the support to the project which will be carried out by the Republic of Serbia and the EBRD.
Another loan agreement worth €15 million will support the Serbian private sector.
According to Dinkic, the loan is particularly important having in mind the fact that the project will strengthen the Serbian section of Corridor 10, which will pave the way for increased exchange of goods between Serbia and the rest of Europe.
He recalled that the EBRD so far invested nearly $780 million and attracted a further $1.2 billion in other investment.
Dinkic confirmed that he was assured by EBRD officials that the EBRD will support Serbia’s railways, energy sector and banking sector.
Lemierre said that the Beska bridge and Belgrade-Novi Sad section of the highway are crucial for the future of Serbia, noting that the agreement was reached thanks to the understanding of the Council of Ministers of Serbia-Montenegro and the Serbian government, with the support of the European Investment Bank (EIB). He noted that the loan agreement was also supported by the Canadian government.
Noting that he visited Serbia-Montenegro in February this year, the EBRD President said that he noticed changes, even in mood, which he explained by the fact that the country received a positive Feasibility Study and reached an arrangement with the International Monetary Fund (IMF).
The agreement on guarantees between Serbia-Montenegro and the EBRD was signed by Serbia-Montenegrin Minister of Human and Minority Rights Rasim Ljajic and Lemierre, while Dinkic and Lemierre signed the agreement on the support to the project which will be carried out by the Republic of Serbia and the EBRD.
Another loan agreement worth €15 million will support the Serbian private sector.
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