|Beneficiary Contribution||Own Contribution||€ 251,020,000|
|EU IPA Contribution||External Grant||€ 30,000,000|
|Total Grants||€ 4,500,000|
|Total Loans||€ 1,074,480,000|
Transport Corridor X, a key Pan-European arterial route running north-south, passes through Austria, Slovenia, Croatia, Serbia, the former Yugoslav Republic of Macedonia and Greece, and is the backbone of the TEN-T network (the European Union's north-south, east-west transport connection strategy) in the Balkan peninsula. It forms a part of the southeastern axis of the extensions of the TEN-T network to neighbouring countries. Aimed at developing quality infrastructure in Europe, this project, therefore, has a clear strategic dimension from the regional point of view and has been confirmed as one of the key priorities in the core road network defined by the South East Europe Transport Observatory (SEETO).
The realisation of the project will allow completion of the main missing link on Corridor X Serbia on the route from Belgrade to Thessaloniki and Sofia, namely 2 sections:
As such, the project is strategically important in the region, serving international and local traffic demand and improving one of the few remaining bottlenecks on the 1,500 km long Corridor. Time savings, reduced accidents and modest vehicle operating cost saving will contribute to the many economic benefits of this project. With improved links to the broader geographic area the benefits will be felt by locals and international travellers.
The total estimated cost of the project is €1,570 million, split between the two sections with €970 million for the E75 section and €600 million for the E80 section. Out of the total project cost, €30 million is estimated for project preparation, management of construction and work supervision, covering both sections of E75 and E80. WBIF is providing €4.5 million as a grant for project management activities and special studies. This includes €3 million (with EIB as lead IFI) for geotechnical and structural expertise, detailed design, quantity surveying and traffic management systems, and €1.5 million (with EBRD as lead IFI). In addition, this technical assistance is coordinated with the World Bank, who is also a co-financier for the project. This neatly brings three key WBIF IFI players together on this project.
The project is consistent with the Serbian National Plan for Road and Rail Infrastructure Development 2008-2012, which identifies the completion of the road portion of Corridor X as a first priority. Also, improvements on the TEN-T network are an important part of the Lisbon Strategy for competitiveness and employment in Europe and part of the Europe 2020 strategy.