European Investment Bank agrees deal to finance Serbian Highway

Serbia has clinched another €384m for the southern section of its 'Corridor 10' highway, which links Central Europe with Greece and Asia.

Serbia has signed a deal with the European Investment Bank (EIB) to complete a section of a new highway.
 
A €384 million loan from the EIB will allow for the construction of the southern section of Corridor 10 – which connects central Europe with Greece and Asia. The World Bank has already approved a $400 million loan to help bankroll the highway. 
 
The agreement covers 75 kilometres of the road from Grobovnica to Levosoje. Corridor 10 will be 835 kilometers long when completed.
 
Serbian Prime Minister Mirko Cvetkovic and the president of the EIB also agred to a pledge from the EIB to finance the section of Corridor 10 from Niš to the Bulgarian border.
 
The pair stressed that the EIB was determined to support Serbia’s economic recovery and help it progress toward European Union membership. Both also promised to work towards financing other infrastructure projects in Serbia in an effort to create jobs. 

In July, a 21 kilometre-long stretch between the border with Macedonia and the southern Serbian village of Levosoje – around 350 kilometres south of Belgrade – was completed.
 
That was financed with €13 million from the Serbian state budget. Serbia hopes to complete the project by Spring 2012.