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EIB lends EUR 100 mln to support Serbian motorway project

Serbia has signed a EUR 100 million loan deal with the European Investment Bank (EIB),the lending arm of the European Union, to finance the construction of the Niš-Merdare motorway in Serbia, the bank said.

The project will also be supported by EUR 48 mln in grants under the Western Balkans Investment Framework (WBIF) platform, consisting of a EUR 40.6 mln investment grant and a EUR 7.4 mln technical assistance grant for project preparation, the EIB said in a statement.

The EUR 255 mln project concerns the construction of the first 32-kilometer section out of 100 km in total of the so-called "Highway of Peace"motorway connecting Niš, one of the largest cities in Serbia, with Pristina in Kosovo.

The project includes the construction of four grade-separated junctions, six tunnels ranging from 200 to 1,200 meters long, nine major bridges between 100 and 1,000 meters long, as well as rest areas, a local control center and platforms for service stations, and is expected to be completed by the end of 2024.