EIB approved loan in amount of 66m EUR for regeneration of Gazela bridge and regional roads

European Investment Bank (EIB) approved credit of 66m EUR to Public Company "Putevi Srbije" for regeneration of Belgrade's bridge Gazela and regional roads.

At the press conference, General Manager of "Putevi Srbije", Branko Jocić, said that total value of rehabilitation works on access cloverleaf and bridge on the highway through Belgrade amounted to 77m EUR and that the works should be completed within 18 months.

He said that there had been some suggestions that one bridge lane at the time be closed for traffic, but he could not specify how the traffic would function during the works, since, as he pointed out, traffic police would make final decision about that.

Jocić points out that it is necessary that the Roma families who live beneath the bridge are relocated before the works start, and he adds that the contractor should be selected by the end of August, since the prequalification tender has already been closed.

- Reconstruction of Gazela bridge has not been done for more than 30 years, although about 165,000 vehicles pass the bridge on daily basis, and projected daily number of vehicles is about 38,000 - said he.

Branko Jocić said that he had asked from the National Investment Plan to allot 50m EUR by the end of the year for the works on the bypass around Belgrade, between Ostružnica and Bubanj Potok, of which use is necessary during the works on Gazela bridge.

Minister of Finance of Serbia, Mirko Cvetković, said that the repayment period for the loan of European Investment Bank (EIB) was 20 years with grace period of 5 years and interest rate of 4.5% - 4.7% on annual basis, and that the money would be taken in eight installments, each amounting to minimum of 4m EUR, prior to March 2010.

He said that the project would be financed by European Bank for Rehabilitation and Development with the loan of 25m EUR, City of Belgrade with 7.5m EUR, "Putevi Srbije" with 4.8m EUR and European Agency for Reconstruction (EAR), which would donate 6.75m EUR.

EIB

JP Putevi Srbije Beograd

EBRD Evropska banka za obnovu i razvoj

Evropska agencija za rekonstrukciju EAR Beograd

Grad Beograd

Ministarstvo finansija Republike Srbije

Gazela

Branko Jocić

National Investment Plan

Ostružnica

Bubanj Potok

Mirko Cvetković