The European Bank for Reconstruction and Development (EBRD) should grant additional loan of about EUR 200 million to Serbia by the end of 2011 for the development of railway infrastructure on Corridor 10 through Serbia, Director of EBRD Infrastructure Sector Thomas Maier stated on May 6.
The national railway company Serbian Railways will used that loan to have the railway tracks on Corridor 10 renovated, Maier said to the press before the meeting with Serbian Minister of Infrastructure Milutin Mrkonjic.
- Negotiations on the new loan are underway and I hope that the project will be presented to the EBRD Board of Directors by the end of the third quarter of this year and ready for signing afterwards - said Maier.
He reminded that the EBRD had provided EUR 350 million for infrastructure projects in Serbia in the previous two years, 200 million euros of which had been spent on two railway projects, 100 million euros on each, while EUR 150 million had been invested in the development of road infrastructure on Corridor 10.
According to Maier, about EUR 50 million have been saved during the implementation of road infrastructure projects on Corridor 10 and that money will be invested in the renovation and construction of new roads.
Assistant to the Serbian Minister of Infrastructure Dejan Lasica said that the new EBRD loan of 200 million euros, the fifth in the last 10 years, would be intended for three railway transport projects.
- The biggest portion of that loan, about EUR 105 million, will be spent on the reconstruction of 15-kilometer railway tracks between Stalac and Djunis so that the bottleneck on Belgrade-Nis section could be removed - Lasica explained.
According to his words, another part of the loan, in the amount of about EUR 35 million, will be intended for the modernization of 15-kilometer railway tracks on Belgrade-Resnik section.
Lasica added that the remaining funds - approximately EUR 60 million - would be spent on the refurbishment of the worst spots on Corridor 10, that is, the places where trains can travel at the maximum speed of 20 to 30 kilometers per hour.
Mrkonjic said he expected the implementation of the first two projects that would be financed from the Russian loan of USD 800 million to start on September 1. These two projects are the completion of railway sections Valjevo-Loznica and Belgrade-Pancevo.