Russia ready to grant credit for Serbia’s railways

General Manager of the Russian Railways Vladimir Yakunin said that the Russian side had taken all the necessary steps to realize the loan for the modernization of the Serbian rail infrastructure.

Now it is up to the Serbian parliament to ratify the contracts, after which the parties can start realizing the projects. The deadline for the entrepreneurs to develop projects will be specified in special contracts.

The USD 800 Million credit (EUR 640 Million) will be used to finance the doubling and electrification of line Belgrade-Pancevo, the development of  Valjevo-Loznica line and the reconstruction of 200 km of Belgrade-Bar line, as well as the reconstruction of 111 km of the European Corridor 10.

Source: serbia-times.com

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