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A:
World Bank to grant $388 m loan for Corridor 10
Belgrade,
19 February 2009
The World Bank today stated it will provide a $388 million loan for the construction of 158 kilometres of road on Corridor 10, whereas other international financial institutions are to secure €750 million.
The statement adds that with possible contributions from other international financial institutions and the Hellenic Plan, the World Bank will finance 84 kilometres of motorway between Prosek and Dimitrovgrad and 74 kilometres from Leskovac to Lesevoj.
The World Bank recalls that this has been envisaged in the agreement with Serbia, adding that further details will be negotiated this spring.
The World Bank Board of Executive Directors will then approve the project, which the Serbian parliament will then ratify.
The statement adds that works on these two sections are to be completed within four or five years. All documents necessary for the Board of Executive Directors to make the decision must be submitted by May 19.
Project leader Martin Humphreys said that the World Bank is grateful for the opportunity to play a leading role in helping the Serbian government improve road infrastructure on key corridors.
Humphreys noted that this road will considerably help the economic improvement of the south of Serbia, as well as the entire country and the region.
The World Bank recalls that this has been envisaged in the agreement with Serbia, adding that further details will be negotiated this spring.
The World Bank Board of Executive Directors will then approve the project, which the Serbian parliament will then ratify.
The statement adds that works on these two sections are to be completed within four or five years. All documents necessary for the Board of Executive Directors to make the decision must be submitted by May 19.
Project leader Martin Humphreys said that the World Bank is grateful for the opportunity to play a leading role in helping the Serbian government improve road infrastructure on key corridors.
Humphreys noted that this road will considerably help the economic improvement of the south of Serbia, as well as the entire country and the region.
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