October 24 (SeeNews) - Serbian infrastructure minister Zorana Mihajlovic said on Tuesday the government is in talks with the European Bank for Reconstruction and Development (EBRD) on financing for the first phase of a project for the construction of a motorway that will link the city of Nis with Pristina in Kosovo via Merdare.
The investment in the first phase, involving the construction of a motorway stretch between Nis and Plocnik, in southern Serbia, will stand at 212 million euro ($249.4 million), Mihajlovic said, as quoted in a statement by the government.
The government expects to receive the support of the EBRD for the project as it would lead to improved connections in the region and will encourage its economic growth, Mihajlovic said during a meeting with the EBRD director for Serbia, Daniel Berg, and the managing director of the bank for Central and South Eastern Europe, Charlotte Ruhe.
In July, Mihajlovic said the European Investment Bank (EIB) and the World Bank are also interested in financing the construction of the motorway.
The construction of the 77 km motorway, which is part of a project stretching to Albanian capital Tirana and the Adriatic port of Durres, is funded by the European Fund for the Balkans.