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KfW Lends 17.5 Million Euros to Serbia for Waterworks

Ekonomija
Politika Izbori 2012
Energetika
Srbija i Evropska unija

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KfW Lends 17.5 Million Euros to Serbia for Waterworks

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KfW Lends 17.5 Million Euros to Serbia for Waterworks

Details: Published on Thursday, 05 April 2012 06:46

Kreditanstalt fuer Wiederaufbau, Germany’s development bank, will lend 17.5 million euros ($23 million) to six Serbian cities to improve water supplies and sewage. The 12-year loan with three-year grace period has an interest rate of “slightly more than 3 percent” and complemented with a 7.5 million euro-grant from the German government, said Juergen Welschof, KfW representative in Serbia, who signed the arrangement with Serbian officials in Belgrade today.

Economy Minister Nebojsa Ciric said the state is backing borrowing for the projects, which are to begin in June.

KfW is preparing another 90 million euros for the same purpose in another 11 municipalities of the Balkan country, Welschof said. Germany previously provided 58 million euros to seven other Serbian cities where such upgrades are almost completed, he said.

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