Serbia is borrowing 400 million euros from several banks for the construction of the Moravian Corridor

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In order to provide the funds necessary for the construction of the “Moravian Corridor”, Serbia will borrow 400 million euros from several banks.
The loan is approved for 13 years, which includes a three-year grace period. The interest rate is six-month EURIBOR increased by a fixed margin of 0.55% per annum. The loan agreement, signed at the end of last year, will be confirmed by the deputies soon.
Loan security is provided by the Multilateral Investment Guarantee Agency.
The works on the corridor from Pojat to Preljina have been entrusted to the Bechtel Enka consortium, which operates in Serbia through its branch. The investor is Corridors of Serbia. In the middle of last year, the Assembly has already approved a loan of 431 million euros for this project. Of these funds, 158 million euros have been withdrawn so far.
– The road from Pojat to Preljina is one of the most important roads, because it connects the central parts of Serbia with the two most important routes Corridor 10 and Corridor 11. The construction of this road will increase accessibility to municipal centers, economic zones and tourist destinations. It is expected that the increase in the competitiveness of the Serbian economy, which will connect the Moravian Corridor with international roads, will be monitored through indicators of economic and social development of local governments – the explanation says.
A commercial contract on this road was signed in December 2019. The road is a total of 112 kilometers long. This year, Sector 1 of the Moravian Corridor, from Pojat to Krusevac, should be completed, in the length of 27.4 kilometers. According to some announcements, the entire corridor could be ready in the spring of 2024.
The construction of 117 major road facilities, 88 bridges and underpasses, as well as 29 overpasses is planned on the future Moravian Corridor.
11 traffic loops are planned. The highway is being built at a speed of 130 kilometers per hour, with a total width of 30 meters, almost two meters wider than other highways, RTV reports.