World Bank granted 388m USD to Serbia for "Corridor 10"

The Board of executive directors of the World Bank approved the loan of 388m USD to Serbia yesterday (July 9, 2009) for highway "Corridor 10". This is the largest loan ever approved by that international finance institution to Serbia, and it will be used for financing of construction of three sections on Pan-European corridor.

The project has four components: construction of two sections of M1 highway to Macedonia, 31.6 km long - Grabovnica-Grdelica section (5.6 km) and Vladičin Han-Donji Neredovci section (26.4 km), construction of Niš-Dimitrovgrad section of M1 highway to Bulgaria, and construction of 8.67 km of highway around Dimitrovgrad.

The contract on World Bank's loan also comprises "road safety" component, which will support application of the new Law on traffic safety (adopted on May 29, 2009), development of national traffic safety strategy, and design of standards for measuring traffic safety.

Also, that document anticipates assistance in implementation of projects and institutional support, including support to company "Corridor 10", supervision of construction works, environment protection and expropriation, as well as other necessary costs.

- Project "Corridor 10" will reduce the costs of transportation of goods, lower the price of import and contribute to greater competitiveness of export. The project will also be useful for all those who use roads – because they will travel safer and faster, and for all those who live alongside the highway – because it will move the route outside the centers of the towns and villages the highway passes through, it will make availability of basic social services easier and create opportunities for employment - the World Bank's Project Leader, Richard Martin Humphreys, said on that occasion.

Mrkonjić : Tender prior to end of month

- On the occasion of the World Bank's decision to grant the loan for construction of "Corridor 10", the Minister of Infrastructure, Milutin Mrkonjić, said last night that the tender would be announced in July for construction of sections that would be financed from aforementioned loan, and he expressed expectation that that loan would be operational around September 1st when the works should commence - Tanjug announced.