EBRD providing first part of 47 mln euro loan to Srbija Voz

The agreement was signed with Serbian finance minister Dusan Vujovic and the general director of Srbija Voz, Jugoslav Jovic, and envisages the lending of 30 million euro to Serbia Voz, the EBRD said in a statement.

A second loan for the remainder is expected early in 2018, the bank said.

The upgrade will give the company more maintenance capacity as part of the modernisation of Serbia’s railway system. The Zemun depot will become the main maintenance site for its fleet, and the only one suitable for its recently acquired Electric Multiple Units, financed by the EBRD.

"Modern and efficient rolling stock maintenance facilities are essential for the company’s sustainable operations," said EBRD Transport Director Sue Barrett said. "We believe that the project will promote the modal shift from road to rail, thus supporting the transition to a green economy in Serbia."

The project will ensure the durability and reliability of the fleet of new, modern trains of Srbija Voz, especially the ‘Electric Multiple Units’, procured also through the EBRD loan funds, Jovic said.

To date, the EBRD has invested over 4.5 billion euro in over 200 projects in Serbia.

($ = 0.848362 euro)