The World Bank’s Board of Executive Directors has approved a combined 124.9 mil euro loan to Serbia in support of reforms of state-owned enterprises and highway construction works along Corridor X. The second loan is an investment in the amount of 35 million euro for the construction of the missing links of the Pan-European Corridor X highway. Corridor X will help Serbia to fully utilize its geographic position in the heart of the Western Balkans along Pan-European Corridor X highway. Building missing links will bring more transit traffic for Serbia and make contribution to the Serbian economy, the World Bank stated. 

The funds will also finance improvement of roads network after disastrous floods which hit Serbia in 2014, removal of unexploded ordinance found along the alignments, and excavation and preservation of archeological sites. Completing the Corridor X Highway, which is part of the EU TEN-T Corridor network, and improving the service delivery should provide a solid base for further improvement of regional connectivity and integration, trade exchange, and overall economic development, said Svetlana Vukanovic, World Bank task team leader.

Source: seenews