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Dragutinovic signs two EIB loan agreements
Belgrade,
12 June 2009
Minister of Finance Diana Dragutinovic today signed an agreement on financing between the Serbian electric power network EMS and the European Investment Bank (EIB) and a financial agreement “Loan for Municipal and Regional Infrastructure/B” with Director of EIB's South East Europe Loan Sector, Dominic Curbin.
The Ministry states that according to the agreement on financing, EIB is to put a €24.5 million loan at EMS disposal for the project to improve the EMS power grid.
The project will cost €50.7 million, € 26.2 of which will be provided by the EMS public company.
The project stipulates the construction and reconstruction of electric power supply facilities.
The €50 million financial agreement will help to realise projects envisaged by the National Investment Plan concerning road infrastructure, education, public administration and the preservation of cultural and historical heritage.
The loan must be repaid over the next 20 years, with a grace period of 5 years, concludes the statement.
The project will cost €50.7 million, € 26.2 of which will be provided by the EMS public company.
The project stipulates the construction and reconstruction of electric power supply facilities.
The €50 million financial agreement will help to realise projects envisaged by the National Investment Plan concerning road infrastructure, education, public administration and the preservation of cultural and historical heritage.
The loan must be repaid over the next 20 years, with a grace period of 5 years, concludes the statement.
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