Source: Tanjug | Friday, 03.11.2017.| 10:40
Highlight an article Print out the news

World Bank lends Serbia EUR 100 million for infrastructure

(Photo: Mckyartstudio/shutterstock.com)
The World Bank Board of Executive Directors approved a loan of USD 119 million (EUR 100 million) for the Enhancing Infrastructure Efficiency and Sustainability Program for Serbia, the international financial institution announced.

The new funds will enable Serbia to more efficiently maintain 8,000 kilometers of roads and enhance energy efficiency in 234 public facilities, says the press release by the World Bank submitted to Tanjug.

The World Bank Board of Executive Directors agreed at the session that Serbia was interested in enhancing the efficiency and sustainability of infrastructure, especially in the sector of transport and energy, in order to contribute to the long-term competitiveness of the Serbian economy and lead to a growth and the creation of new jobs.

– Serbia is on the crossroads of Southeast Europe and it is expected that the improvement of its road network will give the main contribution to a constant economic growth, not just in Serbia, but also in the region – stated Stephen Ndegwa, the World Bank Country Manager for Serbia.

– This operation will enable the maintenance of the road network and, above all, an essential implementation of a modern approach to maintenance in Serbia. Furthermore, energy efficiency and safety in renovated public buildings will improve – he added.

The program, as the press release says, will support Serbia in improving the management and sustainability of public infrastructure, focusing on the transport and energy sectors.

The transport component focuses on supporting efforts to modernize the way road maintenance is managed, helping the country move from traditional maintenance to Performance-based Maintenance Contracting.

This transition will bring better planning, contracting, and fiscal discipline to the Public Enterprise Roads of Serbia and will ensure better safety on Serbian roads.

The energy component supports the government’s Program for Reconstruction and Improvement of State-Owned Public Facilities by improving energy efficiency and safety in 234 public buildings throughout Serbia and strengthening the implementation capacity of the program.

The renovated buildings - which include hospitals and clinics, schools and kindergartens, and other social facilities - will have lower energy bills, improved building conditions (such as better lighting and heating), extended operational lifetimes, and enhanced safety (e.g. structural improvements and fire protection), says the press release by the World Bank.

Only logged-in users can comment.
Follow the news, tenders, grants, legal regulations and reports on our portal.
Testiraj besplatno!
Register for our daily business bulletin, which is sent to your email address at the end of each work day.
Full information is available only to commercial users-subscribers and it is necessary to log in.
Test for free!
Testiraj besplatno!
Full information is available to commercial users-subscribers only.
Testiraj besplatno!

Log in to view complete information:
Forgot your password? Click here HERE
For free test use, click HERE