news 15 Jan 13

Russia Agrees Loan for Serbian Railways

Ministers from Belgrade and Moscow have signed a deal on a 600 million euro Russian export loan to finance rail infrastructure in Serbia.


The Serbian and Russian finance ministers, Mladjan Dinkic and Anton Siluanov, have signed a deal in Moscow on a government loan for Serbia's state-owned railway company.

The contract, signed at the weekend, envisions using the money to build and electrify a second 16-kilometre section of the Belgrade-Pancevo railway and construct a single-track 68-kilometre line linking Valjevo and Loznica in western Serbia.

The loan will also help underwrite the cost of rebuilding six sections of the pan-European "Corridor 10", modernise the railway from Belgrade to Bar in Montenegro and purchase Russian-made diesel trains.

The Corridor 10 road transport artery stretches from Salzburg in Austria to Thessaloniki in northern Greece.

After the signing ceremony, Dinkic said the deal was "very important" for Serbia's infrastructure because the most important international rail routes would be restored.

Talk about it!

blog comments powered by Disqus

Related Headlines:

28 Oct 16

Serbian State Security ‘Involved in Killing Journalist’

The former chief of a police task force investigating the 1999 murder of an opposition journalist told a Belgrade court that his probe concluded that State Security was involved in the killing.

Premium Selection

28 Oct 16

‘Balkan Beats’ Guru Has World in his Sights

The Bosnia-born DJ now rocking the music scene in Berlin and beyond pays tribute to the Gypsy sounds - and Balkan ‘broken hearts’ - that inspire him.

28 Oct 16

Croatia Economists Doubt Tax Cuts Will Revive Growth

New tax-cutting measures are welcomed but not likely alone to restore growth rates to pre-2008 levels, experts say.

24 Oct 16

Traces of Empire: Serbia’s Roman Heritage