Ministry of Finance negotiates with EBRD and EIB on approval of credits for railways-€100m, €1m provided for railway tracks in Smederevo

Minister of Finance Mlađan Dinkić confirmed that the negotiations had started with international financial institutions, European Bank for Rehabilitation and Development and European Investment Bank, on approval of €100m worth of credits for modernization of railways. The idea is that the credits, which have, so far, been invested in roads, be redirected to investment in railways.

Amount of €1m will be set aside from the budget for completion of railway tracks in Smederevo in order to connect steel mill US Steel with the port, since that company is the biggest Serbia exporter. He said that the Government would help Railways of Serbia with 8.5 billion CSD in 2005.