Source: Beta | Monday, 21.06.2021.| 15:29
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State Providing Guarantee for Loans Worth EUR 169 Million for Gasification of Three Districts

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Illustration (Photo: Andrea Slatter/shutterstock.com)
The Republic of Serbia has provided guarantees for three long-term loans worth a total of EUR 169 million, which Srbijagas will use for the gasification of three districts and the construction of three distribution gas pipelines, according to the laws recently published in the Official Gazette.

The state guarantees pertain to the agreements on two loans by OTP Banka Srbija and one by Banca Intesa AD Beograd, with the PE Srbija as the beneficiary. The state thereby obliged to repay the loans in case this public enterprise fails to do so.

The credit for the gasification of the Kolubara District and the construction of the distribution gas pipeline Belgrade-Valjevo-Loznica is dinar-denominated, in the amount not exceeding EUR 75 million.

The agreement with Banca Intesa was signed on May 10, and the interest is a three-month EURIBOR plus the interest margin which is 1.85% on an annual level.

The loan agreement with OTP Banka Srbija in the amount of up to EUR 66 million was signed by Srbijagas on May 11, and the sum will be used for the gasification of the Bor and the Zajecar districts and the construction of the distribution gas pipeline Paracin-Boljevac-Rgotina-Negotin-Prahovo.

The interest is a three-month EURIBOR plus an annual interest margin of 1.78%.

The state guarantee was also provided to OTP Banka Srbija for the PE Srbijagas’ obligations under the agreement on the long-term loan for the construction of the distribution gas pipeline Leskovac-Vranje, worth up to EUR 28 million.

The agreement was made on May 11, and the interest is a three-month EURIBOR plus an annual interest margin of 1.78%.

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