Q:
A:
EIB loan worth €540mn for Corridor 10 sections
Belgrade,
1 October 2008
The Serbian Ministry of Economy and Regional Development stated today that the European Investment Bank (EIB) will provide a loan worth €540 million for construction of Corridor 10 sections, of which €240 million will be used to finance the Leskovac-Presevo section, and €300 million for the Nis-Dimitrovgrad section.
According to the statement issued by the Ministry, agreement was reached at today’s meeting between Serbian Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic and head of the EIB sector for loans for southeast Europe Dominik Kerbin.
It was agreed at the occasion that a technical mission of the EIB will visit Serbia by the middle of November in order to determine details of the loan agreement.
It is expected that loans will be approved for 25 years with a grace period of five to seven years and an interest rate to the amount of Euribor plus 0.2%, which are significantly better terms than usual market conditions.
It was also agreed that the EIB will finance these two sections in coordination with the World Bank and the European Bank for Reconstruction and Development (EBRD).
Last week, during the Deputy Prime Minister’s visit to the headquarters of the World Bank in Washington it was agreed that the World Bank will provide $600 million for financing Corridor 10, while at the beginning of September the EBRD director expressed willingness to approve a loan worth €150 million for financing the Nis-Dimitrovgrad highway.
According to the Greek government’s Hellenic Plan, a further €100 million is meant for completing the Corridor 10 section towards the Macedonian border, concludes the statement.
It was agreed at the occasion that a technical mission of the EIB will visit Serbia by the middle of November in order to determine details of the loan agreement.
It is expected that loans will be approved for 25 years with a grace period of five to seven years and an interest rate to the amount of Euribor plus 0.2%, which are significantly better terms than usual market conditions.
It was also agreed that the EIB will finance these two sections in coordination with the World Bank and the European Bank for Reconstruction and Development (EBRD).
Last week, during the Deputy Prime Minister’s visit to the headquarters of the World Bank in Washington it was agreed that the World Bank will provide $600 million for financing Corridor 10, while at the beginning of September the EBRD director expressed willingness to approve a loan worth €150 million for financing the Nis-Dimitrovgrad highway.
According to the Greek government’s Hellenic Plan, a further €100 million is meant for completing the Corridor 10 section towards the Macedonian border, concludes the statement.
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