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The Government of the Republic of Serbia

In the service of citizens

EIB to approve funds for Corridor 10, Serbian media

Belgrade/Luxembourg, 15 June 2009

Serbian Deputy Prime Minister for EU integration Bozidar Djelic said today that the European Investment Bank (EIB) is willing to approve €600 million to Serbia for building the Corridor 10 highway, €350 million for supporting small and medium-sized enterprises (SMEs) and €150 million for technological projects.

After talks with EIB President Philippe Maystadt in Luxembourg, Djelic said that part of the funds for SMEs will be set aside for helping the media, €10 million for the print and nearly €30 million for the electronic media.

He explained that the media have been affected by the economic crisis, adding that supporting the media industry is important because it is the basis of a good democracy.

The government will adopt a set of measures for supporting the media this or the next week, said Djelic, adding that it was his initiative to use part of the SMEs funds for supporting the media.

The Deputy Prime Minister stressed that the EIB loans could be approved for a period of 15 years, on an annual interest rate from 3.5% to 4.5%.

The Minister added that Maystadt is to visit Belgrade in October to open the EIB regional office, stressing that the EIB President agreed to set aside €600 million for the construction of two new motorway sections on Corridor 10, from Leskovac to Presevo and from Nis to Dimitrovgrad.

Serbia will also be granted a favourable loan for the development of SMEs to the amount of €700 million, €350 million of which will be provided by the EIB and €350 million by commercial banks.

Djelic informed the EIB President about the Serbian government plan for the development of higher education and the sciences, which can be implemented only with EIB financial support of €150 million.

He explained that the plan envisages 12 projects for reconstructing the existing infrastructure, constructing a biotech campus, improving the situation at technical faculties, as well as some new projects, such as the construction of infrastructure in Petnica and a new campus for the Mathematical Gymnasium.

Minister Djelic stressed that the EIB is one of Serbia’s top partners, adding that in the upcoming period the EIB will help Serbia develop national and local infrastructure, as well as the education and health systems.