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BELGRADE (Serbia), May 16 (SeeNews) – The European Investment Bank (EIB) plans to provide a 6 million euro ($6.7 million) financing for the construction of the Belgrade bypass road by the end of this year, the bank's head for the Western Balkans, Dubravka Negre, said on Thursday.
The EIB has already provided 94 million euro of the 100 million euro financing agreed for the project, Negre said in a video file published on the website of news agency Tanjug.
Last month, Serbia signed a Memorandum of Understanding (MoU) for the construction of a section of the Belgrade bypass road with a consortium of China's Power Construction Corporation (Powerchina) and Azerbaijan's civil engineering company Azvirt. The MoU covers the construction of the Bubanj Potok-Pancevo section of the bypass road, in which about 500 million euro will be invested
In September, Serbia signed an agreement to receive a 207 million euro loan from the Chinese government for the construction of the 20.4 km-long section which is considered the most complex part of the project, as it involves building a bridge over the Danube, 11 viaducts and two tunnels.
($ = 0.891391 euro)