Serbian Railways gets loan for wagons

Serbian Railways will receive a loan of 60 million euros for purchasing 1,100 new wagons.

Izvor: FoNet

Monday, 17.07.2006.

19:07

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Serbian Railways gets loan for wagons

Stating that it is a “big day” for the Serbian railroads, Finance Minister Mlađan Dinkić said that an agreement will soon be signed regarding the credit with the European Investment Bank that will be worth 80 million dollars and will be spent on rehabilitating and restoring the tracks of Corridor 10.

“The state has decided to get behind this program of restructuring the Serbian railroads…the railway will play a larger role soon…and will be one of the national and economic priorities of the government.” Dinkić said.

Dinkić added that the Serbian budget for this year will look to invest 172 million euros in the railways through loans and that there will be 32 million euros of Spanish loans for the purchasing of locomotives.

The EBRD credit, which has a grace period of four years, will be paid back over a span of 15 years with a very reasonable interest rate of 4.5 percent.

EBRD Director in Serbia Dragica Pilipović said that the bank has been working for some time on reconstructing the Serbian railway and that this loan will help the best segment of its work, which is product transport, which is already at European standards of quality.

“Our loan is conditioned with various parameters of restructuring…I think that the parameters were set well and that it will help the Serbian budget and the restructuring of the railway.” Pilipović said.

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