BELGRADE (Serbia), July 29 (SeeNews) – JP Kikinda, the public infrastructure and services company serving Serbia's Kikinda municipality, has started the construction of an 11.4 million euro ($13.5 million) wastewater treatment plant, it said.
German development bank KfW will provide 6 million euro financing for the first phase of the project, in which a total of 9.6 million euro will be invested, JP Kikinda said in a statement last week.
Out of KfW's total funding commitment, 30% will be in the form of a grant and the remainder will be a loan with a grace period until 2022, while Serbia's infrastructure ministry will provide 3.5 million euro toward the cost of the project.
Serbia's infrastructure ministry signed an agreement for a 17 million euro loan from KfW for water infrastructure projects in Kikinda, Vrbas, Knjazevac and Paracin municipalities, aiming to improve the water supply services offered to 125,000 people.
($ = 0.842018 euro)