July 16 (Bloomberg) -- The European Bank for Reconstruction and Development plans to lend as much as 65 million euros ($79.5 million) to the city-owned municipal transport company in the Serbian capital to renew its bus fleet.
The eight-year loan with two-year grace period, would help JKP Gradsko Saobracajno Preduzece Beograd, controlled by Belgrade’s municipal government, purchase 280 18-meter long buses and 120 buses powered by compressed natural gas, the London-based lender said on its website.
Pending final review of the project, loan approval is expected Sept. 18, the bank said.
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