October 17 (SeeNews) - Serbia's government said it decided to take out a 149.2 million euro ($157.1 million) loan from China’s Export-Import Bank to finance the construction of a bridge over the Danube and a bypass road in the northern city of Novi Sad.
The loan has a 15-year maturity, including a grace period of five years, and a variable interest rate equal to the six-month EURIBOR plus 1.90%. Interest payments are due on a six-month basis, according to the loan agreement published on the parliament's website last week.
In March 2022, Serbia signed a 175.5 million euro deal with China Road and Bridge Corporation (CRBC) under which the Chinese firm will build in Novi Sad a bridge over the Danube river and a bypass road.
($ = 0.9494 euro)