EIB approves 35 million Euros loan for Belgrade sewage system

The contract for the loan was signed in Luxembourg. 

It is meant for the vital infrastructure in the municipality and the construction of sewage treatment facility to reduce the pollution of the Danube river and underground waters.

The EIB also allocated a non-refundable 1.1 million Euros for the preparation of the project in line with the Economic Resilience Initiative (ERI).

The remaining money for the project's 52 million Euros cost would be secured from the City’s budget, the EIB said.

“We expect with pleasure to see this project finished as planned according to the best European standards,” Miguel Morgado, Director of the Operations Directorate within the EIB Adriatic Sea Department, who signed the contract, said.

On behalf of Belgarde, Deputy Mayor Goran Vesic put his signature on the contract.

The details of the deal were not published.

Morgado added that the loan was a continuation of the EIB contribution to the development and benefits of the people in the region by covering a wide range of strategic sectors.