The Serbian Transport Ministry has announced that Serbia has signed several commercial and financing deals with China worth a combined EUR 734 million for infrastructure works. The deals were signed on the sidelines of the 16+1 Summit of the Prime Ministers of China and Central and Eastern European Countries.
A portion of the agreed funding will be used to finance the first stage of the modernisation of the Belgrade-Budapest high-speed railway, the ministry said. Serbia’s transport minister, Zorana Mihajlovic, signed a commercial deal for the project and a memorandum of understanding with the Chinese Export-Import Bank (EximBank) for a loan to finance the works.
Other projects financed under the deal include the construction of a section of pan-European Transport Corridor XI, between the towns of Surcin and Obrenovac, as well as the construction of the Belgrade bypass.
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