Serbia is taking a loan to develop the Sava and Drina corridors

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Serbia plans to take a loan from the International Bank for Reconstruction and Development (EBRD) in the amount of 78.2 million euros for the Integrated Development Project of the Sava and Drina Corridors, according to the bill that is in the parliamentary procedure.

Of that money, about 78 million euros were allocated for the costs of goods, works, non-consulting and consulting services, training, operating costs for the project, and 195.5 thousand euros for the access fee.

The goal of that project is to improve flood protection and enable cross-border cooperation in the field of waters on the river corridors of the Sava and Drina.

The project is a phase of the VPP Program and consists of four parts: Integrated Management and Development of the Sava River Corridor, Integrated Management and Development of the Drina River Corridor, Project Preparation and Management and Regional Cooperation.

Support is provided, among other things, for flood protection financing, investment and environmental management, as well as dams on the Drina and Sava rivers.

Furthermore, the project improves the port infrastructure in Sremska Mitrovica, improves the Sava waterway, and provides support for the realization of the integrated development of the Lim river flow.

The dates for payment of the loan principal are June 15 and December 15 of each year, starting from December 15, 2023, to December 15, 2031.

The project completion date is July 3, 2026, Nova Ekonomija reports.