Contract signed with EBRD - 80m EUR for "Gazela" and bypass

Minister of Finance, Mirko Cvetković, and Manager of Public Company "Putevi Srbije", Branko Jocić, have signed the contract on loan for project "Belgrade's highway and bypass" with European Bank for Rehabilitation and Development (EBRD) in amount of about 80m EUR. Manager of EBRD for central Europe and western Balkans, Peter Raineger, signed the contract on behalf of EBRD.

Following the contract signing, Cvetković said at the press conference that 25m EUR from the loan would be used for reconstruction of "Gazela" bridge and access roads, while 55 m EUR would be spent on construction of Zone A of the bypass around Belgrade, from Batajnica to Dobanovci.

He said that the loan of EBRD must be spent in minimal installments of 100,000 EUR by the end of year 2011. The loan will be repaid in 24 semiannual installments starting from 2011 and until year 2023.

Jocić said that the tender for reconstruction of "Gazela" bridge would be announced on January 16, 2008, and that it would be followed by announcement of tender for construction of the bypass from Batajnica to Dobanovci.