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Serbia road funding being delivered - Serbia Business

Serbia road funding being delivered

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A loan of €178 million will pay for the Surcin-Obrenovac highway project in Serbia. The loan for the work is being provided by China’s Export-Import Bank. The financing deal has been agreed between the Serbian Government and the Chinese bank. When Chinese sources deliver funding for road projects, a usual stipulation of the agreement is that the main contracting work should be carried out by a Chinese firm. However, the names of the company or companies that will be involved in the road construction have yet to be clarified. Meanwhile the International Bank for Reconstruction and Development (IBRD) is supplying a funding package for the Corridor 10 road project in Serbia that is worth €35 million. The Corridor 10 route is of major importance for Europe as a whole as it will improve transport connections through the Balkans nations.