EBRD loan to upgrade Serbian railway network

A press release said that money would be used to buy the materials needed for the urgent upgrade. “Serbian Railways Infrastructure will implement the project, with the assistance of the Ministry of Construction, Transport and Infrastructure,” it added.

According to the press release, the investment is intended to improve the quality of the country’s railways with focus on improving operational speed, preventing derailments, raising reliability and the safety of passenger and freight rail services, making the sector more attractive and promoting a modal shift towards rail transport.

The loan agreement was signed by Finance Minister Sinisa Mali and the project agreement was signed by Construction, Transport and Infrastructure Minister Goran Vesic and Acting Director General of Serbian Railways Infrastructure Jelena Tanaskovic. On behalf of the EBRD, both agreements were signed by Matteo Colangeli, Director and EBRD Regional Head of the Western Balkans.