Serbian Finance Minister Sinisa Mali signed the agreements on the financing of the construction of the Preljina-Pozega highway on Corridor 11 and the modernization and reconstruction of the Belgrade-Budapest high-speed railway section from Novi Sad to Subotica on Thursday, April 25, in Beijing.
Mali signed those agreements with the Chinese Exim Bank, in the presence of the presidents of China and Serbia, Xi Jinping and Aleksandar Vucic, the Ministry of Finance announced.
The financing agreement pertains to the financing of the Preljina-Pozega section, for which the commercial agreement was signed back in November 2017 between the Government of Serbia, the PE Roads of Serbia, the City of Belgrade and China Communications Construction Company Ltd. as the contractor.
The loan of USD 445 million is approved for the financing of 85% of the project’s value, whereas the remaining 15% will be secured from the budget of the Republic of Serbia.
The minister points out that Chinese investors see Serbia as a reliable partner and adds that the agreement on the financing of the modernization and the reconstruction of the Hungarian railway on the territory of the Republic of Serbia
was also signed with Exim Bank.