Serbia, EIB sign EUR50m loan agreement on hospital upgrade

Serbia and the EIB signed a financial agreement on a 25-year EUR50m loan for reconstruction of four clinical centers in the country yesterday, the finance ministry said. The loan will have four-year grace period and will be disbursed in four tranches at a minimum amount of EUR10m, except the first instalment that could amount to EUR5m. The document was inked at the Western Balkans summit in Trieste by FinMin Dusan Vujovic and EIB Vice President Dario Scannapieco. The project will be implemented by the health ministry. This is the last one of three financial agreements planned with the EIB for the needs of financing of projects for reconstruction of four clinical centers in Serbia – in Belgrade, Novi Sad, Nis and Kragujevac. The total cost of the project is EUR400m, of which the EIB will provide EUR200m. The remainder will be provided by the government, the CARDS program of the EC, the World Bank and bilateral donors. The previous two agreements with the EIB on the project were signed in Dec 2006 (for EUR80m) and in Dec 2008 (for EUR70m).

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