The Serbian government will take a loan of 219.2 million euros from Turkish banks Ziraat and Denizbank for construction of infrastructure projects in Sandzak and Vojvodina, which is being carried out by Tash Yapi, also from Turkey, Nova Ekonomija announced.
At a session on December 30, the government adopted a bill to confirm a loan agreement between Serbia and these banks. According to the contract, the money will finance the construction of the Sremska Raca-Kuzmin highway, the bridge over the Sava River and the reconstruction of the Novi Pazar-Tutin road.
The loan will be realized through two lines of credit, the first of which is 19.2 million euros, the second line is 200 million euros, and the annual interest is 2.5 percent.
The repayment period of the first line of credit is two years from the withdrawal of the first tranche, and the repayment period of the principal is 10 and a half years, in 21 equal to half yearly installments.
The grace period of the second credit line is four years from the withdrawal of the first tranche, while the repayment period is nine years, in 18 equal semi-annual installments.
The loan covers 80 percent of the cost of projects, and the remaining 20 percent will be provided by Serbia from budgetary funds. The Turkish company Tash Yapi, which will do the lending projects, came into focus in March 2019, when the director of the firm, together with CIP officials, was arrested in Vranje on suspicion of corruption, Nova Ekonomija reminded.
In September last year, a labor inspection found 53 undeclared workers during a check-up in Tash Yapi.
