The European Investment Bank (EIB) said it agreed to lend a 26 million euro ($27.6 million) second tranche of a 41 million euro loan to Serbia for the upgrade of judiciary buildings.
The deal concerns the financing of an investment programme for the upgrading and modernisation of court facilities throughout the country as part of the Serbian National Judicial Reform Strategy, the EIB said in a statement on Monday following the signing of the agreement for the second loan tranche.
The loan will mature in 25 years and includes a five-year grace period. The first tranche of the financing, worth 15 million euro, was agreed by the government in October 2011, the Serbian finance ministry said in a separate statement.
The bank of the European Union will provide financing for three key projects in the investment programme: the comprehensive refurbishment of the Justice Palace of the Belgrade High Court, the construction of a wing on the site of the existing building of the Special Court, as well as the reconstruction of the building of the former Military Technical Institute for the needs of judicial bodies.
Serbia plans to invest a total of 84.15 million euro in the programme, which comprises 22 projects throughout the country. Project implementation of the overall investment programme is scheduled for 2011-2018.
