The EBRD reallocates EUR 91.5 million of the existing sovereign guaranteed loan of EUR 95 million originally provided to Serbian Railways, to Infrastructure of Serbian Railways.
The sum will be provided by the EBRD to finance rehabilitation and modernisation of railway infrastructure, including track modernisation within vicinity of Belgrade, track renewal and rehabilitation of electrical infrastructure on selected sections on Corridor X, procurement of maintenance machinery and modernisation of the passenger service system within the Belgrade Node. The total value of the project is EUR 110 million.
As part of the restructured project, the EBRD will also finance the rehabilitation of five passenger EMUs that are currently in operation, which will be implemented by Srbija Voz JSC.
Infrastructure of Serbian Railways was established in August 2015 as a result of the Serbian Railways reform.
Two technical co-operation assignments were arranged prior to the loan restructuring, as part of the original project with Serbian Railways: EUR 400,000 for the assistance to the Serbian Railways restructuring programme and EUR 175,000 for Lender’s Monitor, a fund that was provided by the Central European Initiative. Additional funding has been made available from the EBRD Shareholder Special Fund for further assistance with the project implementation in amount of up to EUR 400,000.
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