Serbia borrows EUR 400 million to build the Moravian Corridor

In order to secure the necessary funds for the construction of the Moravian Corridor, Serbia will borrow 400 million euros from various banks.

The loan is approved for 13 years, with a grace period of 3 years. The interest rate is a six-month EURIBOR plus a fixed margin of 0.55% per annum. The loan agreement, signed in late 2021, will soon be confirmed by the Serbian MPs. The loan guarantee is provided by the Multilateral Investment Guarantee Agency.

The works on the Pojate-Preljina motorway stretch have been entrusted to the Bechtel-Enka consortium, which operates in Serbia through its subsidiary. In the middle of last year, the National Parliament already approved a loan of 431 million euros for this project, and 158 million euros have been spent out so far.

The Moravian Corridor entails the construction of 117 large roads, 88 bridges and underpasses and 29 overpasses. The motorway will have a total width of 30 metres, which is almost two metres wider than the existing motorways.

(Nova, 11.01.2022)

https://nova.rs/vesti/biznis/srbija-se-zaduzuje-400-mil-eur-na-13-godina-za-izgradnju-moravskog-koridora/

 

 

This post is also available in: Italiano

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