EBRD, Italy to help Serbian Railways Infrastructure raise standards

The first project aims to help Serbian Railways Infrastructure to improve its corporate governance, while the second project is intended to help boost the company’s operational performance, the EBRD said in a press release.

The third project will follow early next year with focus on assisting the railway sector to establish an independent market regulator and to integrate Serbia’s railways into the EU transport market.

The projects will be financed by Italy, through the Central European Initiative, and the EBRD.

"The projects we are starting today with the support of the EBRD will enable us to integrate Serbian railways into the transport system of the European Union faster and better," said director general of Serbian Railways Infrastructure, Nebojsa Surlan.

The three projects follow the 2.2 billion financial package consisting of an investment loan of 550 million euro provided by the EBRD, an investment grant of 598 million euro provided by the EU and an investment loan of 1.1 billion euro lent by the European Investment Bank for the modernisation of the 230 km high-speed railway connecting Belgrade to Nis, the EBRD said.

“We are pleased to join forces with our European partners to help Serbian Railways Infrastructure raise standards further in terms of governance and operations," said Matteo Colangeli, EBRD Director for the Western Balkans. "Accelerating the switch from road to rail is a key priority for the EBRD. As part of that, we are also financing projects to renew rolling stock, rehabilitate railway tracks and modernise regional train depots, with the aim of making rail travel in Serbia faster, more comfortable and more reliable.”