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EBRD asks from EPS to use EUR 45 million loan until end of 2011

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Representatives of the European Bank for Reconstruction and Development (EBRD) asked from Minister for Infrastructure and Energy Milutin Mrkonjic to have a EUR 45 million loan for the Electric Power Company of Serbia (EPS) used until the year’s end, as well as that a EUR 200 million loan for the railway route of Corridor X be disbursed in two tranches amounting to 95m and 105m euros.

EBRD Director for Infrastructure Thomas Meyer and EBRD Director for Serbia Hildegard Gacek said at a meeting with Mrkonjic that they had finished all the preparations for granting the loan to EPS, which is to be spent on the renovation of 15 and the construction of seven small hydroelectric power plants.

The loan for railways is planned to be disbursed in tranches, the first of which, in the amount of EUR 35 million, would be spent on the improvement of the Belgrade railway infrastructure for the Belgrade-Rakovica-Resnik railroad.

The EBRD Director for Infrastructure asked Minister Mrkonjic to influence the Ministry of Finance and the Serbian government to accelerate the process of making a final decision on aforementioned loans and their use, and the minister promised to give them an answer as early as on Friday (18 November 2011), reads a statement.



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