Government: Croatian Roads to Receive Guarantee for Split Ring Road

The Croatian Government asked Parliament to a approve an agreement providing a guarantee for the construction of a 31.3 kilometer – long ring road around the coastal city of Split.

As the investor of the project, the Croatian Roads company will receive a loan and the necessary money for the loan will be secured by the European Investment Bank (EIB). Agreements regarding the financing of the Project were signed in July, 2005.

The Project is worth EUR 203 million, including an EIB loan of EUR 60 million. Construction activities are due to start this year and should be finalized in 2009.