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Balkan News

World Bank provides funding for Serbian rail network

29 march 2021

In Bulgarian  In Macedonian  In Romanian  In Serbian

 

On March 17, 2021, the World Bank Board of Directors approved Phase 1 of the program for modernization of the railway sector in Serbia, BalkanEngineer.com learned from eKapija.com. Thus, 62.5 million out of the total of USD 400 million of the the program’s overall financing envelope will be provided.

 

 

The country is strengthening its focus on infrastructure development by increasing the safety, efficiency, environmental sustainability and regional connectivity of its railway by upgrading 3 735 km of it.

 

The World Bank is cooperating with the French Development Agency, with 50% co-financing of Phase 1 of the project.

 

With plans to invest EUR 3.3 billion in its rail network over the next decade, Serbia aims to fully electrify its railways, fully implement the European Railway Traffic Management System, remove speed limits and improve freight line capacity on the core network as well as to improve the management of rail assets, the World Bank adds.

 

Source of images: freepik.com

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