ZAGREB, Sept 5 (Hina) - The European Bank for Reconstruction and Development (EBRD) has granted the Croatian flight control a EUR25 million loan for the modernisation of the flight control system, with the Croatian government having
provided guarantees. The loan contract was signed in Zagreb on Thursday.
ZAGREB, Sept 5 (Hina) - The European Bank for Reconstruction and
Development (EBRD) has granted the Croatian flight control a EUR25
million loan for the modernisation of the flight control system,
with the Croatian government having provided guarantees. The loan
contract was signed in Zagreb on Thursday. #L#
The loan is intended for the project of the Zagreb District Flight
Control Centre and has been granted for a period of 11 years, with a
three-year grace. Interest is Euribor + 1 percent for drawdowns
with variable interest rate, while interest on drawdowns with fixed
interest rate is determined separately for every instalment on the
day the drawdown is announced.
The total value of the project is 46.9 million euros, of which 20
million will be secured through a loan by the European Investment
Bank, said the head of the Croatian Flight Control, Drazen
Ramljak.
The project includes the replacement of the basic flight control
system, the system for the processing of radar and flight data, and
communication equipment. The project also covers the expansion of
the flight control building at Zagreb airport. The completion
deadline is 2004 and the new system will start operating in 2005,
Ramljak said.
The EBRD has so far invested around 45 million euros in flight
control projects in Croatia. Deputy Finance Minister Damir Kustrak
said the EBRD's total investments in Croatia's public and private
sector amounted to around one billion euros.
(hina) rml