se times
30/11/2010
Top European Investment Bank officials were in Belgrade on Monday to open the institution's new regional office and sign loan agreements with Serbia.
(AFP, Bloomberg, DPA, B92, European Investment Bank, Serbian government website - 29/11/10)
Top European Investment Bank officials were in Belgrade on Monday to open the institution's new regional office and sign loan agreements with Serbia.
(AFP, Bloomberg, DPA, B92, European Investment Bank, Serbian government website - 29/11/10)
The European Investment Bank (EIB) opened a new representation office for the Western Balkans in Belgrade on Monday (November 29th), and signed three loan agreements worth 325m euros in support of infrastructure and energy projects in Serbia.
"The opening of this office has significance in two respects today: to increase EIB activity in the region; [and] to stress the commitment by European institutions to support your countries in joining the EU," EIB President Philippe Maystadt said during a ceremony at Belgrade City Hall.
Attending it were Serbian Prime Minister Mirko Cvetkovic and Deputy Prime Minister Bozidar Djelic, as well as the ministers of finance, environment and national investment plan, Diana Dragutinovic, Oliver Dulic and Verica Kalanovic. Also present were EIB Vice-President Dario Scannapieco and the head of the EU Delegation in Serbia, Vincent Degert.
Cvetkovic said that opening an EIB regional hub in Belgrade will help strengthen ties with "one of the largest investors" in Serbia. Since 2001, the Luxembourg-based bank has provided about 3 billion euros for key infrastructure, energy, education and health sector projects, as well as for small- and medium-size enterprise development in the country. That amount accounts for nearly 43% of the EIB's total financing of 7 billion euros extended to all six Western Balkan nations -- Albania, Bosnia and Herzegovina, Croatia, Kosovo, Macedonia and Serbia -- over the past ten years.
"Further support of this financial institution will help countries of the Western Balkans in fulfilling their strategic goals, such as increased competitiveness and accession to the EU," Cvetkovic said.
The EIB is owned by and operates in the 27 EU member states, and is active in more than 130 other countries. Its funding programme for the Western Balkan nations for the period 2007-2013 totals 8.7 billion euros, Maystadt told reporters in Belgrade. A report by Bloomberg news agency said the bank plans to increase its financing for the six countries in the region by 5.7 billion euros over the next three years.
The EIB has invested 690m euros in Serbia this year, and is considering providing a 500m-euro loan for the modernisation and expansion of production capacity at the Fiat Automobili Srbija car factory in Kragujevac next year. Meanwhile, the bank signed three new loan agreements worth 325m euros with Serbian authorities Monday.
They include a 195m-euro credit for the construction of a road between Nis, 230km south of Belgrade, and Ciflik, located further to the southeast. The 36km-long section lies on the route of the so-called Corridor 10, a key motorway linking Western and Southeast Europe.
"The opening of this office has significance in two respects today: to increase EIB activity in the region; [and] to stress the commitment by European institutions to support your countries in joining the EU," EIB President Philippe Maystadt said during a ceremony at Belgrade City Hall.
Attending it were Serbian Prime Minister Mirko Cvetkovic and Deputy Prime Minister Bozidar Djelic, as well as the ministers of finance, environment and national investment plan, Diana Dragutinovic, Oliver Dulic and Verica Kalanovic. Also present were EIB Vice-President Dario Scannapieco and the head of the EU Delegation in Serbia, Vincent Degert.
Cvetkovic said that opening an EIB regional hub in Belgrade will help strengthen ties with "one of the largest investors" in Serbia. Since 2001, the Luxembourg-based bank has provided about 3 billion euros for key infrastructure, energy, education and health sector projects, as well as for small- and medium-size enterprise development in the country. That amount accounts for nearly 43% of the EIB's total financing of 7 billion euros extended to all six Western Balkan nations -- Albania, Bosnia and Herzegovina, Croatia, Kosovo, Macedonia and Serbia -- over the past ten years.
"Further support of this financial institution will help countries of the Western Balkans in fulfilling their strategic goals, such as increased competitiveness and accession to the EU," Cvetkovic said.
The EIB is owned by and operates in the 27 EU member states, and is active in more than 130 other countries. Its funding programme for the Western Balkan nations for the period 2007-2013 totals 8.7 billion euros, Maystadt told reporters in Belgrade. A report by Bloomberg news agency said the bank plans to increase its financing for the six countries in the region by 5.7 billion euros over the next three years.
The EIB has invested 690m euros in Serbia this year, and is considering providing a 500m-euro loan for the modernisation and expansion of production capacity at the Fiat Automobili Srbija car factory in Kragujevac next year. Meanwhile, the bank signed three new loan agreements worth 325m euros with Serbian authorities Monday.
They include a 195m-euro credit for the construction of a road between Nis, 230km south of Belgrade, and Ciflik, located further to the southeast. The 36km-long section lies on the route of the so-called Corridor 10, a key motorway linking Western and Southeast Europe.
Another 90m euros of the new EIB credits to Serbia will finance the construction of access roads to a new bridge over the Sava River in Belgrade.
The remaining 40m euros will be used to replace 5% of obsolete electric meters in the country with digital ones, which will be integrated into a remote control system.
"An efficient infrastructure system is the backbone for the recovery and is essential to improving living conditions and economic standards of the population," the EIB's Scannapieco said.
Speaking before the signing ceremony, Maystadt explained that the interest rate for the new loans will be in "the range of 3.7% for a maturity of 25 years," Bloomberg reported.
This content was commissioned for SETimes.com.
The remaining 40m euros will be used to replace 5% of obsolete electric meters in the country with digital ones, which will be integrated into a remote control system.
"An efficient infrastructure system is the backbone for the recovery and is essential to improving living conditions and economic standards of the population," the EIB's Scannapieco said.
Speaking before the signing ceremony, Maystadt explained that the interest rate for the new loans will be in "the range of 3.7% for a maturity of 25 years," Bloomberg reported.
This content was commissioned for SETimes.com.
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