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The Government of the Republic of Serbia

In the service of citizens

Ratification of international financial agreements in interest of Serbian citizens

Belgrade, 8 October 2008

Serbian parliament started today a debate on four international financial agreements for large infrastructure projects worth a total of €186 million.

Minister for the National Investment Plan Verica Kalanovic called on MPs to ratify the documents as these are four big national projects from which Serbian citizens will benefit.

The projects are related to the Belgrade ring-road, reconstruction of the Gazela bridge, construction of 500 apartments and environmental protection in the vicinity of thermal plants, she said.

Kalanovic recalled that the Serbia signed a contract on loan from the Council of Europe's Development Bank worth €10 million, which will be used to build 500 apartments, 400 for refugees and 100 for the socially imperilled.

The contract on guarantee between Serbia and the European Bank for Reconstruction and Development (EBRD) for the project "Belgrade motorway and ring road" worth €80 million will be used to reconstruct the Gazela bridge and complete the A section of the Belgrade ring road, she explained.

The contract on guarantee between Serbia and the European Investment Bank (EIB) for the project “Belgrade ring road” worth €60 million is granted to the public road company "Putevi Srbije" for the A section of the Belgrade ring road, from Batajnica to Dobanovci, which is part of Corridor 10.

Kalanovic also said that the draft law on guarantee between Serbia and German financial institution KFW is worth €36 million and that the funds will be used to reconstruct the "Nikola Tesla" and "Kostolac" plants and to improve environment.