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World Bank to grant loan for Corridor 10
Belgrade,
11 June 2009
Representatives from the World Bank and the Serbian government completed today negotiations over a $388 million loan that the World Bank will provide for the construction of three new motorway sections on Corridor 10.
At a press conference project leader Martin Humphreys specified that the World Bank will finance the construction of the Grabovica–Grdelica, Vladicin Han–Donji Neradovac and Dimitrovgrad–Bulgarian border motorway sections, announcing that the works are expected to start by the middle of November.
All documents concerning the project must be submitted to the Board of Executive Directors for confirmation by July 9. The two sides will then sign an agreement, which will be ratified by the Serbian parliament.
The loan will be provided under very favourable conditions, with a repayment period of 20 years, a grace period of 8 years and a 1.6% interest rate.
All documents concerning the project must be submitted to the Board of Executive Directors for confirmation by July 9. The two sides will then sign an agreement, which will be ratified by the Serbian parliament.
The loan will be provided under very favourable conditions, with a repayment period of 20 years, a grace period of 8 years and a 1.6% interest rate.
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