Loan for Corridor 10 could be brought under question mark - World Bank demands ratification of existing loan contracts

Simon Grey, the Head of the World Bank’s office in Serbia, said that the new loan for financing of construction of south part of Corridor 10 may be brought under question mark in case of further delays in ratification of the existing contracts on the loans that had been approved earlier by that finance institution to Serbia.

- In case nothing changes, it will become very difficult for us to find the arguments to finance the new projects while the old ones are on hold – Grey warned in his statement that is announced on the web site of B92.

He pointed out that the intention of the World Bank to participate in financing of Corridor 10 was not disputable and he confirmed that the officials of the Government of Serbia had asked the World Bank to approve the new loan for financing of that project.

Grey explained that there weren't any deadlines for realization of the projects whose implementation was backed by the World Bank's loans worth 240m EUR, which still wait to be ratified in Serbian Parliament, but he pointed out that that decision could not be postponed forever.

The Head of the World Bank's office in Belgrade also pointed out that he was optimist and that he hoped that the projects would be activated soon. According to his words, the World Bank "wants that Serbia resumes its quick development, which would help it become economically stable and developed country". The contracts on loans of the World Bank were supposed to be ratified more than one year ago.

IFC

Svetska Banka-WB Beograd

Narodna skupština Republike Srbije

Vlada Republike Srbije

Simon Grey

Corridor 10