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EBRD grants EUR 60m loan for Croatia's roads

25 November 2010, 18:15 CET
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(ZAGREB) - The European Bank for Reconstruction and Development (EBRD) said on Thursday it had stepped up investment in Croatia's motorways with a 60.6-million-euro (81-million-dollar) loan.

The funds granted to the Croatian Motorways will be used to finance the construction of motorway sections of the so-called Vc Corridor, a major transportation route stretching from the Hungarian capital of Budapest to the southern Croatian port of Ploce, through eastern Croatia and Bosnia-Hercegovina, an EBRD statement said.

"The EBRD places a high priority on developing these transport links that bolster economic development by supporting cross-border trade," it said.

The corridor is to become the most direct route from central Europe to the Adriatic.

So far the EBRD has invested more than 2.35 billion euros in various sectors of the Croatian economy, including over 400 million euros for modernisation of the country's transport sector.


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