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Serbia Asks China’s Exim Bank for $1.1 Billion to Build Highways

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Sept. 24 (Bloomberg) -- Serbia asked the Export-Import Bank of China, or Exim, for an 850 million euro ($1.1 billion) loan to improve its road infrastructure with new highways.

Agreements with the bank and a contractor may be signed by the end of the year, allowing construction to begin in early 2013, the government said in an e-mailed statement after Finance and Economy Minister Mladjan Dinkic met with Liu Liangge, Exim’s vice president in Belgrade today.

The credit would support construction of a 25 kilometer (16 mile) stretch between the capital Belgrade and Obrenovac, part of a future highway to neighboring Montenegro, and a 110-kilometer Pojate-Preljina section across central Serbia that would link two north-south highways, the statement said.

China and the Balkan country signed a 15-year agreement in 2009 envisaging $1.25 billion Chinese investment in Serbia’s infrastructure and energy.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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