EBRD, EU and WBIF financing construction of ʼPeace Highwayʼ in Serbia
The "Peace Highway" in the Western Balkans will come closer to the start of construction thanks to a loan of up to EUR 85 million from the European Bank for Reconstruction and Development (EBRD), it announced on Wednesday.
The loan will finance the construction of a 39-km (24 mile) section between the cities Niš and Pločnik in the south of Serbia. The highway will connect Niš with Kosovoʼs capital Priština, continue to Albaniaʼs capital Tirana and end in Durrës on the Adriatic Sea.
The road has been classified as an extension of the Trans-European Transport Network (Orient/East Mediterranean corridor) and is a part of Route 7 of the Western Balkans core network.
The construction of the ʼPeace Highwayʼ in Serbia is co-financed with a EUR 100 million loan by the European Investment Bank (EIB), while the European Union is providing a EUR 40.6 million investment grant as well as funding for project preparation through the Western Balkans Investment Framework (WBIF), the EBRD said in a statement.
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