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World Bank’s IFC interested to fund public-private partnerships in Serbia

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Minister of Infrastructure Milutin Mrkonjic met on Tuesday with Director of infrastructure and natural resources for Europe, Middle East and North America of the International Finance Corporation (IFC), which is a member of the World Bank (WB), Gulrez Hoda.

Mrkonjic told Tanjug news agency that the IFC delegation expressed its willingness to support infrastructure development in Serbia through implementation of the model of public-private partnership.

They are interested in ready projects, Mrkonjic explained and underlined that the subject of talks will be construction of Belgrade metro, bridges and Belgrade ring road.

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The Minister said in the meeting that Serbia’s priority in road infrastructure is completion of Corridor 10, which will be done by the end of next year.

The second priority is construction of the motorway from Belgrade to Boljari on the Montenegrin border – Corridor 11, which will cost €2 billion, Mrkonjic added.

The third priority is construction of regional motorways from Belgrade to Vrsac, from Ruma to Sabac, from Paracin to Zajecar and from Pojat towards Republika Srpska.

He announced that all these projects will be completed within next 10 years.

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As for rail transport priority is construction of Corridor 10, with the electrified double-track railway lines for mixed traffic, at which trains will be able to move at at least 160 kilometres per hour. This will cost €4.6 billion over next six years, Mrkonjic pointed out.

Mrkonjic explained that priority will also be the modernisation of Belgrade – Bar railroad, which will cost around €350 million and in next two years the construction of Belgrade metro should begin.

The Danube is also a priority and €350 million will be invested over next four years in equipment of ports. Another important matter will be formation of a new national airline in strategic partnership with a successful company.

Hoda told Tanjug that IFC is interested in cooperation with Serbia and that all possibilities and projects proposed will be evaluated.

He explained that IFC deals with public-private partnership at global level and that the main point here is that the risk is distributed equally between public and private sector and that the model is well-structured.


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