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Azerbaijani Loan "to Speed up Ibar Highway Works"

Azerbaijan's soft loan for infrastructure will enable for construction on the Ibar Highway, "the traffic artery of southwestern Serbia", to fully accelerate.This is according to a statement Serbian Prime Minister Mirko Cvetković made on Monday.
The construction of this highway is a huge chance for the development of the domestic economy, Cvetković said.
The realization of the project would make the Southwest and West Serbia a part of the European network of corridors, he underlined. 
This project will secure balanced development of all parts of the republic, and possibly prevent further demographic decrease by improving conditions of life and work of all citizens of Serbia, Cvetković said for Tanjug. 
Around 850 workers are soon to be engaged in this project, the prime minister noted. 

He added that the Ibar highway is one of the busiest roads, with a large number of accidents per year.

Azerbaijan is to grant Serbia a soft loan of EUR 308 million to the period of 25 years, grace period of three year, and interest rate of four percents. 

Due to the loan, the construction works will kick off this week on E-763 highway, the 40 km Ljig-Požega section, which is a part of Corridor 11 linking Belgrade and south Adriatic coast, Tanjug learned in the Koridori Srbije company on Monday.

Source: Tanjug
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