“…TECHNICAL ASSISTANCE FOR INVESTMENT PROJECTS…”
The project titled Support for the Implementation of the Corporate Governance Action Plan - Serbian Railways Infrastructure JSC Belgrade, will benefit the Serbia Railways Infrastructure JSC Belgrade, a railway infrastructure management company fully owned by the Republic of Serbia. Through technical assistance, the company, the Ministry of Economy as well as the Ministry of Construction, Transport and Infrastructure will be supported in developing internal legal acts, policies and procedures, including establishing and restructuring selected functions of the company.
The second one called Serbian Rail Sector Reform and Regulatory Capacity Building, will support the development of the Serbian Rail Directorate within the Ministry of Construction, Transport and Infrastructure into a formal independent rail sector regulator in line with the objectives of the Transport Community Treaty and wider best practice. This will include developing a strategy for the future of the Serbian rail sector, delivering a study and an implementation action plan for the formation of an independent regulator based at the Rail Directorate as well as providing general support and training.
The two technical assistance assignments will both support an infrastructural investment project for the rehabilitation and upgrade of the rail infrastructure of Corridor X in Serbia, the railway line connecting Belgrade to Niš (approximately 230 km), with the aim to increase the speed to up to 200 kph (significantly reducing the travel time between the two cities) while enhancing the quality of passenger and freight rail services. The modernisation of Corridor X is one of the main investments in the railway sector carried out by the Government of Serbia, it is an axis of national importance connecting Western and Central Europe to Greece, Turkey and the Middle East. The estimated value of the investment is 2 billion EUR, 550 million EUR will be provided through a loan by the EBRD, while co-financing is envisaged by the European Investment Bank and the EU through the Western Balkans Investment Framework.
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