Belgrade renewing sewage system, EIB secures loan of EUR 35 million

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The European Investment Bank will secure Belgrade a loan of EUR 35 million, as part of the project to improve sewage system in the Serbian capital. A loan of EUR 35 million for funding the sewage system in Belgrade has been signed in Luxembourg, which will improve living conditions for 170,000 people living in the Municipality of Palilula, the European Investment Bank has announced. The goal of the project is to secure vital infrastructure for local population and reduce pollution of the Danube River and groundwater, by constructing a wastewater treatment plant. The EU Bank has also provided a technical assistance gift of up to EUR 1.1 million, for preparation of the project under the Economic Resilience Initiative (ERI). The rest of the funds for this project, worth EUR 52 million, will be secured from the budget of the City of Belgrade, the EIB has stated. The loan has been signed in Luxembourg by Miguel Morgado, Director of the Operations Directorate within the EIB Adriatic Sea Department and the Deputy Mayor of Belgrade, Goran Vesic.

Source: N1, Beta

Photo: Pixabay