EIB in € 325 million Serbian infrastructure loans

The European Investment Bank (EIB) has agreed three loans totalling € 325 million supporting infrastructure projects in the Balkans region and has also opened a new representative office in the Serbian capital, Belgrade.

The first phase of a new, 36 km section of motorway on the Pan-European Corridor between Nis and Ciflik in Serbia received a € 195 million boost from the EIB.

In addition, the EIB approved the second € 90 million tranche of a total € 160 million loan for the construction of access roads to the new Sava Bridge in the Serbian capital. The first € 70 million tranche was signed in December 2009.

Serbian Prime Minister Mirko Cvetković said the EIB was one of the largest investors in the Republic of Serbia and noted that it had loaned around € 3 billion to support private and public sector projects in the region since 2001.

"The opening of the EIB regional office in Belgrade will further strengthen the relationship of Serbia and the EIB, while further support from this financial institution will help Western Balkans countries to fulfil their strategic goals, which include increasing competitiveness and accession to the EU," Mr Cvetković said.