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Dec 18, 2017 17:29 EEST
December 18 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is extending a 71 million euro ($83.4 million) loan to Kosovo's government for the construction of a 30 km highway section.
The highway section connecting Kijeve village near the capital Pristina with Zahaq village near the city of Peja is part of Route 6b of the Western Balkans Comprehensive Network and will support Kosovo’s economic development and regional integration, the EBRD said in a press release on Monday.
“The EBRD funding will be complemented by an 80 million euro loan provided by the European Investment Bank (EIB) and 3.2 million euro in grant funding from the Western Balkans Investment Framework (WBIF) for project preparation,” the bank explained.
The investment will also support the commercialisation of the road sector through the introduction of appropriate funding levels for road development and maintenance with a special attention to road safety audits and inspection, the statement added
To date, the EBRD has invested more than 220 million euro in Kosovo through more than 50 projects. The Bank’s strategic priorities in the country are promoting inclusion, the green economy, economic resilience and regional integration. The majority of the EBRD’s investments are in the private sector.
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