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China Eximbank provides EUR 149.1 million loan for Construction of Bypass around Novi-Sad with the Bridge over the Danube River Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Serbia |
| Country | Serbia |
| Start Date | Oct 10, 2023 |
| End Date | Sep 06, 2031 |
| Duration | 2,888 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 107132 |
Grant Description
China Eximbank provides EUR 149.1 million loan for Construction of Bypass around Novi-Sad with the Bridge over the Danube River Project On October 10, 2023, the Government of Serbia’s Ministry of Finance and China Eximbank signed an EUR 149,175,000 buyer’s credit loan agreement (ID#BLA20230090068) for the Construction of Bypass around Novi-Sad with the Bridge over the Danube River Project.
The borrower is expected to make semi-annual repayment on May 15 and November 15 of each year after the expiration of the grace period.
The borrower is also expected to use the proceeds of the loan to finance 85% of the cost of an EUR 175,500,000 commercial contract (ID#401-00-467/2022-01) between the Government of Serbia and CRBC, which was signed on March 19, 2022.
The purpose of the project is to construct a bypass around the city of Novi Sad and construct a bridge over the Danube River on the alignment of state road IIA level N0.111. CRBC is the EPC contractor responsible for project implementation.
Staff Comments
- The Chinese project title is 署诺维萨德跨多瑙河大桥及连接线项目.
- The China Eximbank loan agreement can be accessed in its entirety via https://www.dropbox.com/scl/fi/um4wan2xzii7fnntu7ydu/Serbia-2023-China-Eximbank-Loan-for-Construction-of-Bypass-around-Novi-Sad-with-the-Bridge-over-the-Danube-River-Project.pdf?rlkey=2bsrp7oc92idnl12p6xnbp4pn&dl=0.
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
Sources & References
- 23. седницa Oдбора за административно-буџетска и мандатно-имунитетска питања
- Agreement on construction of bridge, bypass around Novi Sad signed
- Novi Sad's Danube bridge construction to start in 45 days - minister
- Serbia 2023 China Eximbank Loan for Construction of Bypass around Novi-Sad with the Bridge over the Danube River Project pdf
- Serbia hires China's CRBC to build 175.5 mln euro bridge over Danube, bypass road in Novi Sad
- Serbia to take 149.2 mln euro loan from China’s Export-Import Bank for bypass road
- Danube bridge, НАРОДНОЈ СКУПШТИНИ
- 第三届“一带一路”国际合作高峰论坛务实合作项目清单
- 驻塞尔维亚使馆临时代办田一澍出席诺维萨德多瑙河四桥及连接道路项目签约仪式 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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Government of Serbia
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