The European Bank for Reconstruction and Development (EBRD) has approved a €150m loan to Serbia to finance a new section of the ongoing €795m E-80 motorway project.

The motorway is being built along the strategic Corridor X, which is one of the ten pan-European corridors and links the country with FYR Macedonia and Greece in the south and to Croatia, Hungary and Western Europe in the north.

The first 18km Nis-Prosek section of the 90km four-lane motorway project has already been finished.

The total project, to link Nis and the Bulgarian border with a motorway, is being co-financed by the World Bank, the European Investment Bank, and the Republic of Serbia.