Azerbaijan provides Serbia with road construction loan
Azerbaijan, Baku, Feb. 2 / Trend I. Khalilova, N. Ismayilova /
Serbian Foreign Minister Vuk Jeremic and Azerbaijani Economic Development Minister Shahin Mustafayev have today signed an agreement on an Azerbaijani loan to complete a section of the road, Corridor 11. The loan is planned to finance the construction of the road section from Ljig to Preljina in central Serbia.
The government told Trend on Thursday that Azerbaijan is allocating a loan worth 300 million euros for road construction. Credit resources were allocated for 15 years with a three year grace period of three years at an annual rate of four per cent.
Mr Jeremic is on an official visit to Azerbaijan. He met with Azerbaijani Economic Development Minister Shahin Mustafayev and Foreign Minister Elmar Mammadyarov.
Corridor 11 construction is currently underway in Serbia. At present, about 12 kilometres of the road between Ub and Laykovats are under being built. The plans on the Sava River were approved on Oct. 5, 2011.