New transportation means in "Railways of Serbia" with help of Swiss and Spanish credit of 60 million CHF and 20 million USD

Ten days ago, at the meeting of the Administrative Board of "Eurofima", of which member is Serbia, the decision was made on approval of credit worth 60 million CHF. The credit is intended for purchase of transportation means by "Railways of Serbia". The first installment of credit of 158 million CHF is scheduled for July 2005, which will be followed by payments prior to the first quarter of 2006.

In cooperation with the Ministry of International Economic Relations, the plan is that the loan approved by the Government of Spain be obtained. It is very favorable credit worth €20m, which will be spent on procurement of 400 freight cars.

The negotiations about new installment of credit that should be approved by European Bank for Rehabilitation and Development are underway. The credit will be used for reconstruction of 30 locomotives, purchase of lathe for rehabilitation of wheels, as well as for repair of 2,000 freight cars. The value of this credit is €80m.