Czech Republic plans to grant 300m EUR worth of loan to Serbian Railways for modernization of railways on “Corridor 10”

"Serbian Railways" has announced today (February 17, 2009) that Czech Republic plans to grant the loan of 300m EUR to that company for modernization of railways on “Corridor 10”.

The Protocol has already been signed and, if Serbia and Czech Republic reach the agreement, the loan will be realized in 2010.

These funds would be used for modernization of the following railway sections: Belgrade-Kovačevac (Town Hall of Mladenovac), Rakovica-Jajinci-Mala Krsna-Velika Plana and Niš-Ristovac-Preševo-Macedonian border.

The negotiations between the representatives of “Serbian Railways” and the consortium of Czech companies, which has been founded for the sake of realization of projects on “Corridor 10”, took place last week.

According to the announcement, the representatives of Serbian ministries of infrastructure, finance and economy, Czech companies, the Ministry of Foreign Affairs of Czech Republic and the Embassy of Czech to Belgrade participated in aforementioned negotiations.

Serbian Minister of Infrastructure, Milutin Mrkonjić, said earlier that 220m EUR would be invested in modernization of railways on “Corridor 10” in 2009.

The budget of Serbia for year 2009 anticipates allotment of guarantees to “Serbian Railways” for international loans in total amount of 342m EUR, as well as 80m USD for reconstruction and modernization of railways and procurement of railway cars and locomotives.

Železnice Srbije a.d. Beograd

Ambasada Češke Republike u Beogradu

Opština Mladenovac

Ministarstvo finansija Republike Srbije

Ministarstvo privrede Republike Srbije

Government of Czech Republic

Railway Corridor 10

Belgrade Kovačevac railway

Rakovica Jajinci Mala Krsna Velika Plana railway

Niš Ristovac Preševo railway

Corridor 10

Macedonian border

Milutin Mrkonjić

Ministry of Foreign Affairs of Czech Republic