The EBRD has provided Serbia with a €50 million loan to upgrade its railway infrastructure. The funds will be used to purchase materials for upgrading the track on the reconstructed sections of the railway. The work will last two years and is aimed at improving the reliability and safety of transportation.
The Serbian Ministry of Finance has signed an agreement with the EBRD supporting the modernization of about 1,100 km of railways. In the future, it is planned to upgrade and build up to 2,000 km of track to develop passenger and freight transportation.
The EBRD is the largest investor in Serbia, having invested more than €9 billion in 362 projects, including €1.1 billion in the railway sector.