Â
Prime Minister Mirko Cvetkovic said today that due to the realisation of Azerbaijan’s long-term loan for the financing of construction of road infrastructure in Serbia, the works on the Ibar motorway will be speeded up to the maximum.
Speaking about Azerbaijan’s loan to Serbia for the construction of the Belgrade-the South Adriatic section of the motorway from Ljig to Preljina, Cvetkovic said that the realisation of this project will erase the negative image of the Ibar motorway, and south-western and western Serbia will become a part of the network of European corridors.
He underlined that the construction of this motorway is a huge development opportunity for the local economy and added that it will provide a balanced development of the entire country and will stop further demographic decline by improving conditions for life and work of all Serbian citizens.
It is expected that very soon approximately 850 people will be employed in the construction of this motorway section.
The Prime Minister recalled that the Ibar highway is one of the busiest traffic routes, which counts with the largest number of accidents per year.
Under the loan agreement, Azerbaijan will approve to Serbia a favourable loan worth €308 million, with a repayment period of 25 years, a grace period of 36 months and the annual interest rate of four percent.
The loan will enable the start of construction works on a 40 kilometres long section of the motorway E-763 in Serbia from Ljig to Preljina, which is an integral part of Corridor 11 and will link Belgrade with the South Adriatic.
Source Serbia Gov.
