EBRD loans EUR 47 million to railway operator
The European Bank for Reconstruction and Development (EBRD) is providing loans worth EUR 47 million to the Serbian railway operator Srbija Voz.Source: Beta, Tanjug
The money will be used to expand and upgrade a maintenance depot in Belgrade's municipality of Zemun, Tanjug reported.
"The first portion of 30 million euros was signed in Belgrade today by Finance Minister Dusan Vujovic and Acting General Director of Srbija Voz a.d. Jugoslav Jovic, on the Serbian side, and Director for Transport Sue Barrett and Director for Serbia Daniel Berg, on the EBRD side," the bank announced on Thursday.
The realization of the second phase is expected at the start of 2018, while the depot in Zemun will become the main location for maintaining trains and for a recently procured electric train financed by the EBRD, Beta said, citing the bank and added that "in addition to better maintenance, the project will have a domino effect on the quality of passenger services, the longevity of trains and an increase in passenger numbers."
The EBRD has so far invested EUR4.5 billion in over 200 projects in Serbia.