GrCF3 W2 - Belgrade Public Buildings - Extension

approved

Provision of a senior loan in the amount of up to €4 million to the City of Belgrade (the "City" or the "Borrower"), as an extension to the Bank's existing loan of €5 million provided under the GrCF2 W2 - Belgrade Public Buildings Project (Project ID 51421). The loan extension will be used to finance (i) a funding shortfall that emerged following the procurement process for the existing project, which will support implementation of energy efficiency ("EE") and associated structural improvements at the City Library and the Student Hospital (as originally planned), and (ii) expansion of the project scope to include the renovation of up to three additional public kindergartens in Belgrade (the "Project"). The Project will be co-financed with an additional investment grant of up to €4 million and an additional technical assistance grant of €0.3 million for the works supervision, provided by the European Union ("EU") under the Instrument for Pre-Accession Assistance ("IPA") 2020.