Kragujevac takes RSD 1.25 billion from EBRD - EUR 2.5 million for City Sanitation, remainder for infrastructure and investment promotion

(Kragujevac)

The City Assembly of Kragujevac has decided to take out a loan in the amount of RSD 1.25 billion from the European Bank for Reconstruction and Development (EBRD) to cover capital investment expenditures, it was announced on the website of the Kragujevac municipality.

Speaking of all the things that should be financed with the proceeds of this loan, Mayor Radomir Nikolic said that the EBRD would transfer EUR 2.5 million from the first tranche to the account of the city, which would then be forwarded to the City of Kragujevac Sanitation Department for the procurement of trucks and containers. This loan comes with a grace period of two years and a repayment period of eight years.

When it comes to investments in infrastructure, no work will be done on streets in neighborhoods around Kragujevac, but only on those streets that will make industrial zones attractive, Mayor Nikolic said and added that the construction of bridge towards Erdec with all access roads was also in the pipeline.

Talking about the ways to attract new investments, the mayor pointed out that the new industrial zone would use the land currently managed by the Center for Small Grains as soon as the Serbian government and the City Assembly had adopted a Conclusion about the transfer of founding rights.