Through the CEI Fund at the EBRD the CEI has provided technical assistance grants of around €300.000 for a project aimed at rehabilitating key sections of Corridor X, the main north-south route running through Serbia, which is also the country’s key regional link with its neighbours.
This technical assistance, complemented by funding provided by the Western Balkan Investment Framework and the EBRD Shareholder Special Fund, has led to a sovereign-guaranteed EBRD loan of up to €95 million to Joint Stock Company Serbian Railways.
The investment will focus on monitoring and implementing the project as well as on further restructuring and commercializing Serbian Railways. In particular, the EBRD loan will support Serbian Railways by financing the modernisation of a 14km section of Corridor X from the Belgrade Central Station through Rakovica to Resnik, as well as the renewal of approximately 50km of track along key sections of this Corridor. The project will enhance the speed and reliability of passenger and freight rail services in Serbia. “The CEI is providing additional technical assistance grants supporting the ongoing reform of Serbian Railways. We are increasing commitments in Serbia also by supporting the EBRD’s investment projects aimed at modernising rail infrastructure in Serbia and promoting further reform in the sector” said Guido Paolucci, Programme Manager, CEI Fund at the EBRD. The CEI Fund at the EBRD is entirely provided by Italy and in 2011, it was replenished with 2 million EUR. For more information: dovier@cei-es.org