The European Bank for Reconstruction and Development (EBRD) has announced its consideration of approving a 50 million euro loan to Serbia, earmarked for the benefit of the Infrastructure of Railways of Serbia (IŽS).
The loan aims to finance the acquisition of materials for the urgent rehabilitation of railways across Serbia’s railway network. This project will be undertaken by IŽS with support from the Ministry of Construction, Transport, and Infrastructure.
According to documents released, EBRD will make a decision on the loan, currently in the “pre-approval” phase, by September 11.
EBRD emphasizes that the primary goal of this emergency railway rehabilitation project is to enhance the overall infrastructure quality of Serbia’s railway network. This includes improving operational speed and preventing derailments, which are crucial for boosting safety in both passenger and freight rail traffic. The initiative is expected to stimulate greater interest among passengers in rail transport and encourage a broader shift towards this mode of transportation.
Recently, EBRD President Odile Renaud-Basso visited Belgrade and expressed satisfaction with the institution’s achievements during her trip to Serbia. She highlighted Serbia’s significant role as an investment destination, ranking fifth in EBRD funding recipients last year. Renaud-Basso expressed optimism that Serbia will continue to build on this success.
During discussions with Renaud-Basso, Prime Minister Miloš Vučević reaffirmed Serbia’s commitment to advancing ongoing and new projects in energy, renewable resources, environmental protection, infrastructure and information technology sectors.
