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EBRD to grant another EUR 200 million for railway network by end of year

22. June 2011. | 11:32

Source: Tanjug

Board directors of the European Bank for Reconstruction and Development (EBRD), who are currently staying in Belgrade, announced that Serbia would be granted another EUR 200 million loan for the railway network by the end of the year since they assessed that it is very important for the country to enhance its infrastructure because of the European integration process.

Board directors of the European Bank for Reconstruction and Development (EBRD), who are currently staying in Belgrade, announced that Serbia would be granted another EUR 200 million loan for the railway network by the end of the year since they assessed that it is very important for the country to enhance its infrastructure because of the European integration process.

During the meeting with Serbian Minister of Infrastructure and Energy Milutin Mrkonjic late on Tuesday, EBRD Board directors pointed out that the Bank would continue assisting Serbia in infrastructure project funding, and expressed satisfaction with the realisation of arrangements with Serbia so far.

EBRD Director for Serbia Hildegard Gacek said that negotiations regarding the EUR 200 million loan for railway Corridor 10 are in the final stage.

In an interview for Tanjug, Gacek expressed hope that contracts would be signed in the last quarter of the year.

EBRD Director for Germany Joachim Schwarzer stated told Tanjug that Serbia should improve its road infrastructure, including the road and railway network, because this is important for the integration of Serbia's economy into that of Europe.

The consultative visit of EBRD Board members to Belgrade is a part of the Bank's practice to regularly organise expert visits to the countries in which it has branch offices.

The EBRD was established in 1991 and has so far been the major financial investor in the region spreading from Central Europe and the Western Balkans to Central Asia.

The EBRD is owned by 61 countries, the European Union and the European Investment Bank (EIB).

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