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A:
World Bank to finance Corridor 10
Belgrade/Washington,
27 September 2008
Serbian Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic said in Washington that the World Bank will have a considerable role in financing the construction of the motorway on Corridor 10.
Following last night’s meeting with World Bank Manging Director Ngozi Okonjo-Iweala, Dinkic stressed that the total amount of funds they discussed is $600 million.
He said he expects the World Bank Board of Directors to approve a $400 million loan to Serbia before end-year, adding that in the upcoming period the remaining funds will also be ensured.
According to him, the World Bank is interested in financing the motorway section from Nis to Dimitrovgrad, and the Bank’s technical mission will arrive in Belgrade next week already to specify technical details of the loan arrangement.
Dinkic reiterated that following the meeting with Okonjo-Iweala, it was agreed that the World Bank will have a considerable role in financing the major infrastructure project – the motorway construction on Corridor 10.
He explained that these are the most favourable terms on the market, considering that the repayment period will be 30 years, with a five-year grace period and the annual interest rate of around 3.5%.
Dinkic also met with IMF officials in Washington – IMF First Deputy Managing Director John Lipsky and Executive Vice President Lars Thunell.
He said he expects the World Bank Board of Directors to approve a $400 million loan to Serbia before end-year, adding that in the upcoming period the remaining funds will also be ensured.
According to him, the World Bank is interested in financing the motorway section from Nis to Dimitrovgrad, and the Bank’s technical mission will arrive in Belgrade next week already to specify technical details of the loan arrangement.
Dinkic reiterated that following the meeting with Okonjo-Iweala, it was agreed that the World Bank will have a considerable role in financing the major infrastructure project – the motorway construction on Corridor 10.
He explained that these are the most favourable terms on the market, considering that the repayment period will be 30 years, with a five-year grace period and the annual interest rate of around 3.5%.
Dinkic also met with IMF officials in Washington – IMF First Deputy Managing Director John Lipsky and Executive Vice President Lars Thunell.
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