RIJEKA: WORLD BANK LOAN FOR PORT PROJECT AVAILABLE IN SEPTEMBER

RIJEKA, March 14 (Hina) - A US$155 million loan for the modernisation of the Rijeka port and construction and reconstruction of local road infrastructure within the Rijeka Gateway project will be made available in September, after a contract to that effect is signed in June this year, World Bank representatives told reporters on Friday. #L# The loan should be repaid over a period of 15 and has a grace of five years. The debtor will be able to choose the loan currency and the interest rate (fixed or changeable). One of the conditions set by the Word Bank is that the Croatian state secure an additional US$105 million for the project as well as state collateral for its realisation, a World Bank representative and project coordinator, Vladimir Skenderovic, said. Skenderovic said that domestic companies already planned to invest the 105 million dollars and that final calculations were being made. The loan, which the government should be granted by the World Bank, is to be used for renovating port infrastructure (around 50 million dollars) and the construction and reconstruction of access roads (around 100 million). The Rijeka Gateway project also envisages the reconstruction of the port's premises in downtown Rijeka and the construction of a pedestrian zone and a single passenger terminal. Project investors are the Rijeka Port Administration and the Croatian Roads and Croatian Highways companies. The project will be implemented in cooperation with the Luka company and the city administration. A part of the project documentation is being drawn up, part has been completed and works on some roads, for example road D 404, have already started. (hina) rml sb