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ZAGREB (Croatia), July 9 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) is considering extending a loan of up to 52 million euro ($58 million) to Croatia's motorways operator Hrvatske Autoceste to finance the construction of the Corridor Vc section in the country.
The sovereign guaranteed loan consists of two tranches, the first of which is of up to 35 million euro and will finance the construction of the 17.5 km section between the town of Beli Manastir and Halasica Bridge, the EBRD said in a statement on Monday, adding the financing will also be used for the purchase and installation of relevant motorway equipment.
The second tranche is of up to 17 million euro and will finance the construction of the 5 km motorway section between the town of Beli Manastir and the Hungarian border.
"The project is complementing the bank's ongoing financing of the sections of the Corridor Vc in Bosnia and Herzegovina, earlier financing of the Corridor Vc in Croatia as well as Croatian Port of Ploce, the maritime gateway for the Corridor Vc," the EBRD said.
Corridor Vc is part of the Western Balkans Core Network. It has been established as an extension of the Trans-European Transport Networks and will eventually link the Hungarian capital Budapest to the Croatian Adriatic port of Ploce via Bosnia.
The Croatian section of the corridor is some 135 km long.