Sitemap

EBRD lends €100m to Srbija Voz to buy new trains

Red Star Serbian Football Champion For The Fifth Time In A Row

Red Star football team won the title...

Ambassador Hill: The Future Of Serbia Is The West, Not The East

H.E. Christopher Hill, the US Ambassador to...

Borrell: The European Union Needs European Armed Forces

The European Union needs its own armed...

U.S. Adds $19.5 Million In New Funds To Development Partnership With Serbia

Today, the United States Government announced an...

Hungary Declares State Of Emergency

The government is declaring a state of emergency in view of the armed conflict in a neighbouring country, starting...

Small And Medium Enterprises Learn How To Be Responsible In The Digital Age

With the intention to share knowledge on responsible digital transformation, digital products and services, responsible communication, responsible processing of...

Blumberg: Bigger Shocks Are Coming With Your Electricity Bills

Forward contracts are baking-in huge price increases for the UK and Europe. An oil crisis hits the economy like...

Electric Vehicle Sales Reach 6.6 Million in 2021

A new report by the International Energy Agency (IEA), authored by Leonardo Paoli, Energy Analyst, and Timur Gül, Head...

Employment Talks: Electronic Documents In Employment And Current Practice Of Labour Inspections

Why we can (not) use e-signature in labour agreements, which labour law documents are fully using e-form, is our...

• The upgrade is part of network and services modernisation by Srbija Voz, with EBRD as a key partner
• EBRD support stimulates a broad shift from road to rail through modernisation of Serbian railway
• Over €1bn of EBRD investments in sustainable infrastructure in Serbia to date

Serbian rail travel is set to become safer and more comfortable when the state railway company Srbija Voz uses a €100 million EBRD loan to buy up to 18 new trains.
Srbija Voz will buy new four-car coaches, which will provide comfortable and reliable regional passenger services on the electrified sections of the rail network.

These are expected to encourage more new passengers to shift their travel habits from the road to rail services, leading to a reduction in greenhouse gas emissions.

Serbia’s rail infrastructure has suffered from severe under-investment since the early 1990s. As a result, the preferred transport option is road-based, with only five per cent of passengers using rail.

In the early 2000s, Srbija Voz launched a major overhaul of its network and services, with the EBRD being one of the key partners in this process.

The EBRD has already supported Serbian railway to buy new passenger coaches and freight wagons which now connect some of the country’s biggest cities. As well as investing in the new fleet, the EBRD has also supported Srbija Voz in expanding and upgrading a railway depot in Zemun, as well as supporting the company to improve its IT systems, energy management and ticket sales.

In parallel, the EBRD team supports the company to improve its management and corporate governance, which should lead to increased efficiency and overall modernisation of the state company.

Susan Goeransson, Director, Head of Infrastructure, Europe at EBRD, said: “We are pleased to be one of the key partners of Srbija Voz in this great revitalisation process leading to more comfortable and safer travel for travellers in Serbia. Besides support for the Serbian railway, we have also supported the Serbian government in other landmark transport and infrastructure projects and we continue so.”

Jugoslav Jović, Acting General Manager of Srbija Voz, added: “Thanks to excellent assistance and cooperation we have had with the EBRD, and with the support of the Ministry of Construction, Transport and Infrastructure, the Ministry of Finance and the Government of the Republic of Serbia, Srbija Voz will implement another project to be financed by the EBRD, and that is the acquisition of new electro-motor units for regional traffic. This project will improve the organization, quality and cost-effectiveness of passenger transport services in regional rail transport, and will enable safer and more comfortable rail transport for passengers.”

So far the EBRD has extended over €1 billion to Serbia for investments in sustainable infrastructure. The EBRD is leading green transition financing in Serbia with investments in key transport and urban infrastructure, renewable energy and energy efficiency projects.
The EBRD encourages using experience and efficiency of the private sector to respond to pressing infrastructure challenges in the Western Balkans. From airports, including a recent project with Vinci and the Belgrade Airport, to environmental infrastructure, including Vinča landfill with world leaders in waste management sector Suez, Itochu and the EIB supported Marguerite Fund, the EBRD has supported private sector investors to boost infrastructure development.

The EBRD is a leading institutional investor in Serbia. The Bank has invested more than €5 billion across 250 projects in the country to date. The EBRD is supporting private-sector development and the transition towards a green economy, as well as investing in infrastructure to boost connectivity in the Western Balkans region.

Related Articles

Hungary Declares State Of Emergency

The government is declaring a state of emergency in view of the armed conflict in a neighbouring country, starting from midnight on Tuesday, Prime...

Blumberg: Bigger Shocks Are Coming With Your Electricity Bills

Forward contracts are baking-in huge price increases for the UK and Europe. An oil crisis hits the economy like a big wave breaking on...

Electric Vehicle Sales Reach 6.6 Million in 2021

A new report by the International Energy Agency (IEA), authored by Leonardo Paoli, Energy Analyst, and Timur Gül, Head of the Energy Technology Policy...

Borrell: The European Union Needs European Armed Forces

The European Union needs its own armed forces to ensure its security, said EU Foreign Minister Josep Borrell. Borrell wrote on his blog that the...

US And Global Banks Unveil Multi-billion Dollar Plan To Address Worldwide Food Crisis

The U.S., several global development banks and other groups unveiled a multi-billion dollar plan Wednesday meant to address a worldwide food security crisis exacerbated...

EU Commission Proposal Suggests Mandatory Solar Rooftops

The EU wants to increase its solar generation capacity in response to the invasion of Ukraine. The European Commission has drafted a proposal to increase...

EC: Serbia’s Growth Is 3.4 % This Year, In The EU Eurozone 2.7 %

The European Commission forecasts growth of Serbia's gross domestic product of 3.4 per cent this year and 3.8 per cent in 2023, according to...

Baerbock: Brussels Must Keep Its Promise Of EU Membership To The Western Balkans

On the eve of the EU Council of Foreign Ministers in Brussels, German Foreign Minister Annalena Baerbock pointed out that the EU must not...