Loan signed for Serbia’s railway sector modernization project

A loan agreement for a project to modernize the Serbian railway sector was signed in Belgrade on May 10

Loan signed for Serbia's railway sector modernization project
Picture: www.nspm.rs

The loan for a project to modernize the railway sector in Serbia is 102 million euros, and is co-financed by the French Development Agency and the World Bank at 51 million euros each, informs Railway Supply magazine with reference to JSC Serbian Railways.

After the signing of the contract, the Prime Minister of the Republic of Serbia Ana Brnabic stressed that the funds from the signed loan will be used for the complete modernization of the Belgrade-Nis railway, where it will be possible to develop train speeds of up to 200 km/h on about 56% of the railway.

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“There will be an assessment of how much it will cost us to continue the construction of the railway from Niš to Presevo, and our goal is to modernize the railway sector in Serbia so that digitalization will increase its efficiency and improve the management of railway assets”

“We are also working on a project to modernize the Nis-Dimitrovgrad railway, and we expect work there to begin at the end of the year.” All this is part of the “green” agenda, part of the transport strategy of the European Union, because money is being invested in the modernization of railways, in the railway, which is the most environmentally friendly mode of transport.

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Serbia plans to modernize railway in the amount of 3.3 billion euros