LUXEMBOURG, Oct 29 (Hina) - The European Investment Bank (EIB) on Monday granted the Croatian Road Management company an exceptionally favourable loan amounting to 60 million euros, to be used for the reconstruction and modernisation
of 450 kilometres of roads. The bank also announced it would invest 650 million euros in different projects in Croatia by the end of 2003. The loan agreement was signed in Luxembourg today by Croatian Road Management director Vladimir Bizjak and EIB vice-president Ewald Novotny. At the same time, Croatian Finance Minister Mato Crkvenac signed a Croatian government guarantee for the loan. The loan has been granted for a period of 20 years, and it will be used for the improvement of 450 kilometres of the road network. Reconstruction works will include 26 sections, of which more than one half run along the Adriatic coast. Novotny said the EIB, the chief financ
LUXEMBOURG, Oct 29 (Hina) - The European Investment Bank (EIB) on
Monday granted the Croatian Road Management company an
exceptionally favourable loan amounting to 60 million euros, to be
used for the reconstruction and modernisation of 450 kilometres of
roads. The bank also announced it would invest 650 million euros in
different projects in Croatia by the end of 2003.
The loan agreement was signed in Luxembourg today by Croatian Road
Management director Vladimir Bizjak and EIB vice-president Ewald
Novotny. At the same time, Croatian Finance Minister Mato Crkvenac
signed a Croatian government guarantee for the loan.
The loan has been granted for a period of 20 years, and it will be
used for the improvement of 450 kilometres of the road network.
Reconstruction works will include 26 sections, of which more than
one half run along the Adriatic coast.
Novotny said the EIB, the chief financial institution of the
European Union, would invest a total of EUR650 million into
different projects in Croatia by the end of 2003.
(hina) sb rml