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EBRD mulls 50 mln euro loan to Serbia for urgent railway upgrades

Jun 20, 2024, 9:56:16 AMArticle by Iskra Pavlova
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June 20 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is considering providing a sovereign loan of up to 50 million euro ($54 million) to Serbia for urgent railway infrastructure upgrades.

EBRD mulls 50 mln euro loan to Serbia for urgent railway upgrades
ToskanaINC/Shutterstock.com

The loan will be borrowed by the Serbian government and extended to state-owned railway infrastructure company Infrastruktura Zeleznice Srbije to finance the procurement of goods for the urgent rehabilitation of rail tracks across the network on pre-defined sections, the EBRD said in a statement on Wednesday.

The loan will help improve Serbia's rail infrastructure by increasing operational speed and preventing derailments. This will enhance the reliability and safety of passenger and freight services, making the railway sector more attractive and promoting a shift to rail transport, the statement read.

The EBRD is due to approve the loan on September 11, 2024.

($ = 0.930 euro)

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