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Loan agreement signed with EBRD to complete Rijeka-Zagreb highway

ZAGREB, July 26 (Hina) - The chairman of the board of the Rijeka-Zagreb Highway company, Jurica Prskalo, and the director for transport at the European Bank for Reconstruction and Development, Riccardo Puliti, on Wednesday signed a EUR50 million loan contract for the completion of the highway connecting Croatia's largest seaport and its capital.
ZAGREB, July 26 (Hina) - The chairman of the board of the Rijeka-Zagreb Highway company, Jurica Prskalo, and the director for transport at the European Bank for Reconstruction and Development, Riccardo Puliti, on Wednesday signed a EUR50 million loan contract for the completion of the highway connecting Croatia's largest seaport and its capital.

At the same time, Finance Minister Ivan Suker and an EBRD representative signed a contract on a Croatian government guarantee for the financing of the project.

The loan was approved for a 25-year period, with four years' grace, and complements a EUR210 million EBRD loan contract signed in March, thus securing the funds necessary for the project, said Prskalo.

The project envisages the construction of 11 bridges, nine tunnels and facilities on 27 per cent of the 44.26 km Kikovica-Vrbovsko section.

The section is expected to be opened for traffic in late 2008 and will finally complete construction on the Rijeka-Zagreb highway, which began about 30 years ago.

Puliti said that such investments in the infrastructure made Croatia's roads part of the European road network and also help Croatia's political integration into the European Union.

The EBRD has been active in Croatia since 1994 and has secured EUR1.6 billion to finance more than 60 projects, mainly in the private sector, said Minister Suker, adding that three loans had been approved to the state and 13 with state guarantees.

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