Q:
A:
EIB to finance construction of Belgrade-Novi Sad highway
Belgrade,
22 April 2004
Serbian Minister of Capital Investment Velimir Ilic said today upon his return from Luxembourg that the European Investment Bank (EIB) will sign an agreement on a €120 million loan for the construction of the Belgrade-Novi Sad highway on May 17.
He told reporters at the Belgrade Airport that the loan is very favourable, with a 25-year repayment period, seven-year grace period and the interest rate of four percent.
The Minister of Capital Investment said that these funds will also be used for the financing of the renovation of the existing Belgrade-Novi Sad highway lane, adding that the section from Belgrade to Beska will be completed by late June.
Ilic said that the EIB is also interested in financing the construction works on the Belgrade ring-road, in which it has invested €22 million so far. He voiced hope that the EIB will finance the whole project, whose total value is estimated at €400 million.
Ilic said that the total investment in Serbia's road infrastructure this year will exceed €450 million, adding that these works will revive domestic economy.
The EIB plans to invest between €50 and 60 million in the overhaul of the Serbian railway system, said Ilic, adding that the priorities will be renovation of the Corridor 10, the railway bridge over Sava near Ostruznica, and the bridges near Bogojevo, Zrenjanin and Tomasevac.
The Minister concluded that the EIB expressed great interest in financing the work of agency for aircraft overflights, with the aim of improving air traffic safety.
The Minister of Capital Investment said that these funds will also be used for the financing of the renovation of the existing Belgrade-Novi Sad highway lane, adding that the section from Belgrade to Beska will be completed by late June.
Ilic said that the EIB is also interested in financing the construction works on the Belgrade ring-road, in which it has invested €22 million so far. He voiced hope that the EIB will finance the whole project, whose total value is estimated at €400 million.
Ilic said that the total investment in Serbia's road infrastructure this year will exceed €450 million, adding that these works will revive domestic economy.
The EIB plans to invest between €50 and 60 million in the overhaul of the Serbian railway system, said Ilic, adding that the priorities will be renovation of the Corridor 10, the railway bridge over Sava near Ostruznica, and the bridges near Bogojevo, Zrenjanin and Tomasevac.
The Minister concluded that the EIB expressed great interest in financing the work of agency for aircraft overflights, with the aim of improving air traffic safety.
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