Serbia gets EIB’s €66 mln loan for reconstruction of bridges and flyovers

Serbian Minister of Finance Mladjan Dinkic signed today with the European Investment Bank (EIB) a €66 million loan agreement for reconstruction of over 100 bridges and flyovers on Serbia’s regional roads.

Dinkic said after the signing that nearly €200 million will be set aside this year from the national investment plan for building a road network in Serbia, and around €600 million will be allocated in the next two years with assistance from the EIB and the European Bank for Reconstruction and Development (EBRD) and the government will also provide funds from the state budget.

He noted that out of €66 million loan, around €22 million will be drawn this year and another €11 million in 2007. Dinkic said that the repayment period is 20 years, with a five-year grace period.

The agreement was also signed by EIB’s representative Romualdo Massa Bernucci, Serbia-Montenegrin Minister of International Economic Relations Predrag Ivanovic and Director of the Road Directorate Branko Jocic.