City of Belgrade borrows RSD 2.96 billion for capital investments - Most money to be spent on rehabilitation of streets and municipal roads

Belgrade (Photo: Suzana Obradović)

The City of Belgrade has concluded an agreement with UniCredit Bank Serbia to take out a RSD 2.96 billlion loan for capital investments, it was announced on the website of the City.

A decision to conclude this loan agreement was made on October 16th.

By the way, this facility consists of several tranches with the same interest rate of 11.48% for each of them.

RSD 683 million will be spent on the construction of primary schools, RSD 737 million on the construction of kindergartens and nursery schools, RSD 240 million on new social care and sports facilities, whereas RSD 835.378 million will be used to rehabilitate streets and municipal roads in the territory of the City of Belgrade.

The last tranche is intended for the rehabilitation of former regional roads that are now a responsibility of the City of Belgrade, for which RSD 464.622 million are set aside.