EBRD supports upgrading of Zagreb-Rijeka motorway
Better access to Croatia’s coastline to boost local economy
London, United Kingdom – Croatia’s coastline is becoming more easily accessible thanks to EBRD financing for the completion of the Zagreb-Rijeka motorway and the upgrading of this road from a single to a dual carriageway.
The EBRD is supporting the completion of this motorway construction, which is expected to boost tourism and trade, with a €50 million loan to Autocesta Rijeka-Zagreb d.d. (ARZ). The loan complements a €210 million loan provided by the European Investment Bank.
The motorway connects the Croatian capital Zagreb with Rijeka, the country’s third largest city with 150,000 inhabitants and its gateway to the Adriatic, a popular destination for tourists. The city’s economy largely depends on sea transport, shipbuilding as well as tourism. Rijeka also is an important junction with links to the peninsula of Istria to the west and the city of Split in the south.
ARZ is a state-owned motorway company responsible for the construction and operation of the Rijeka-Zagreb motorway. It holds a 28-year concession to design, build, finance, operate and maintain all sections of the motorway.
Riccardo Puliti, EBRD Director for Transport, said the Bank’s loan to ARZ is an excellent example of the successful relationship between ARZ and the two international financial institutions that started six years ago when both banks co-financed sections of the motorway as part of the on-going construction effort.
Jurica Prskalo, General Manager of ARZ, said that the funds provided by EBRD and EIB will allow for the completion of the motorway construction with due consideration to the increasing traffic levels and concerns for traffic safety.