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The Government of the Republic of Serbia

In the service of citizens

€150m secured for “Let’s Build Together” programme

Belgrade, 2 July 2010

Minister for the National Investment Plan Verica Kalanovic announced that as part of the “Let’s Build Together” programme, implemented by the Ministry and the European Investment Bank (EIB), works will commence in five Serbian towns today.

Kalanovic told a press conference that the programme includes local and regional infrastructure projects for which €150 million has been secured for the next two years.

One half of the sum is a loan from the EIB which will be repaid over a 15 year period with a five year grace period and an annual interest rate of 1% plus Euribor, while the remaining €75 million has been earmarked from the state budget and the budgets of Vojvodina, local self-governments and relevant ministries.

According to estimates, €1.76 billion is needed for the reconstruction and construction of local and regional infrastructure in Serbia.

Financing projects under the “Let’s Build Together” will strengthen the country’s economy, develop municipalities and cities, encourage employment and improve the quality of life, she underlined.

Funds will be invested in infrastructure projects related to the areas of transport, education, health, social welfare and culture, as well as the modernisation of public administration and local self-government and the renovation of their facilities, emphasised Kalanovic.

A total of 14 projects which will cost RSD 2.5 billion will be carried out during the first phase, including projects for the reconstruction of the interior of the National Library of Serbia, the equipping and expansion of the premises of the Cardiology Clinic in Nis, the reconstruction of the Yugoslavian Film Archive building, the construction of a ring-road around Leskovac and kindergartens in Varnje and Novi Pazar.

A further 33 projects have been accepted as well, which the EIB will approve soon, noted Kalanovic, adding that local self-government bodies can propose new projects within the framework of this programme, which will be continued during the next few years.