Q:
A:
Serbia will state finance construction of Corridor 10
Belgrade,
16 July 2008
Serbian Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic said today that the National Council for Infrastructure made a unanimous decision to declare null and void the contract on concessions for construction of the Horgos-Pozega motorway.
Dinkic told the Tanjug news agency that this Council also decided that Serbia will finance the construction of Corridor 10 by itself, which should be completed by 2011.
Serbia will also finance the construction of Belgrade-south Adriatic motorway by itself, both motorways in southern Serbia that are part of Corridor 10, the Belgrade ring road, as well as part of the Pan-European corridor through Vojvodina that could be completed before 2011.
He explained that transport infrastructure is being built from classical credit lines, the budget of the Republic of Serbia, EU pre-accession funds and issuing of treasury bills on the capital market.
Dinkic said that Greek Minister of Economy and Finance Georgios Alogoskoufis invited him to come to Athens in September to discuss the implementation of the Hellenic Plan.
By September Serbia will have a plan for works on the southern part of Corridor 10, said Dinkic and said that he expects that the Greek government will help in co-financing the works.
He said that it is possible that the rest of the funds will be provided from the Serbian budget and added that Serbia will try to get a long term loan from the World Bank in the autumn.
At the end of last year our total public debt was 28% of GDP, so we have scope for a significant debt increase, explained Dinkic and recalled that the World Bank is now approving loans over 30 years, and interest rates are very low.
Serbia will also finance the construction of Belgrade-south Adriatic motorway by itself, both motorways in southern Serbia that are part of Corridor 10, the Belgrade ring road, as well as part of the Pan-European corridor through Vojvodina that could be completed before 2011.
He explained that transport infrastructure is being built from classical credit lines, the budget of the Republic of Serbia, EU pre-accession funds and issuing of treasury bills on the capital market.
Dinkic said that Greek Minister of Economy and Finance Georgios Alogoskoufis invited him to come to Athens in September to discuss the implementation of the Hellenic Plan.
By September Serbia will have a plan for works on the southern part of Corridor 10, said Dinkic and said that he expects that the Greek government will help in co-financing the works.
He said that it is possible that the rest of the funds will be provided from the Serbian budget and added that Serbia will try to get a long term loan from the World Bank in the autumn.
At the end of last year our total public debt was 28% of GDP, so we have scope for a significant debt increase, explained Dinkic and recalled that the World Bank is now approving loans over 30 years, and interest rates are very low.
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