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The Government of the Republic of Serbia

In the service of citizens

Water supply system in Varvarin, Cicevac to be completed

Varvarin, 15 June 2005

Serbian Minister of Finance Mladjan Dinkic said today during a visit to the municipalities of Varvarin and Cicevac that the Serbian government will finance the completion of a project of regional water supply system in these municipalities with 50 million dinars.

Author: Tanjug

Dinkic stressed that the government is resolved to help the project be completed as soon as possible since water supply is an issue of significant importance in that region. He announced that the Water Directorate will secure a budget revision of 25 million dinars for continuation of works in the regional water supply system.

Since all works will most probably not be finished this year, the 25 million dinars needed to complete the project will be secured in next year's budget.

The full completion of the regional water supply system requires a total of 120 million dinars. Minister Dinkic suggested the president of the Rasinski district and the presidents of the municipalities of Varvarin and Cicevac request the remaining funds in the form of a loan from the European Investment Bank.

Dinkic recalled that loans for the development of local infrastructure are very favourable since they are approved on a 15-year period with a five-year grace period and an interest rate of approximately six percent on the annual level. He reiterated that these are by far the softest loans possible.