Turkish loan for roads in Sandžak - investment of up to 25m EUR in regional junctions

The Minister of Economy of Serbia, Mlađan Dinkić, reached the agreement today (June 2nd, 2009) in Turkey on approval of the loan of up to 25m EUR for construction of two regional junctions in Sandžak.

According to the announcement of the Ministry of Economy, approval of the loan was confirmed by the Director General of Turkish National Export Bank (Turk Eximbank), Ahmet Kilicoglu, and it is intended for construction of main route Novi Pazar - Sjenica and regional road Novi Pazar - Tutin, on which a bridge will be built as well.

- All technical details concerning that loan will be defined soon, and the works are expected to commence this autumn - it is explained in the announcement.

According to the announcement, construction of roads and other infrastructure in underdeveloped areas will create conditions for arrival of investors and improvement of living standard of citizens regardless of where they live in Serbia.

Serbia and Turkey signed the Agreement on free trade yesterday, and its application will start on January 1st, 2010.