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The Government of the Republic of Serbia

In the service of citizens

Contract on loan for project "Belgrade highway and ring road" signed

Belgrade, 15 November 2007

Serbian Minister of Finance Mirko Cvetkovic and directors of Serbian public road company Putevi Srbije Branko Jocic and the European Bank for Reconstruction and Development office for Central Europe and Western Balkans Peter Reiniger signed today a contract on loan for the project "Belgrade highway and ring road".

Mirko Cvetkovic and Branko Jocic

Author: Tanjug

Speaking at a press conference held after the signing of the €80 million contract, Cvetkovic said that € 25 million will be used for reconstruction of the supporting construction and access roads to the Gazela bridge, while €55 million will be used for the zone A of the Belgrade ring road, from Batajnica to Dobanovci.

He said that the EBRD loan must be used in the minimum €100,000 tranches by the end of 2011. The repayment will be made in 24 semi-annual instalments from 2012 to 2023.

Jocic said that the total value of works on the part of the ring road from Batajnica to Dobanovci will be around €115 million and added that the non-hygienic settlement under Gazela should be completed by the end of the year in cooperation with the Belgrade City Assembly.

Reiniger said that so far EBRD has approved over €1.3 billion for a total of 76 projects in Serbia.

The signing of the agreement was attended by Director of EBRD Office for Serbia Hildegard Gacek, EBRD representative Enrico Maglia and Italian Ambassador to Serbia Alessandro Merola.