Loan to secure Serbia’s fleet upgrade
The European Bank for Reconstruction and Development (EBRD) is stepping up its support for Serbia’s rail sector by extending a EUR 43 million loan to Serbia Cargo to finance the modernisation of its freight fleet.
Serbia’s state-owned carrier will use the funds to replace obsolete rolling stock, buy new locomotives and freight wagons, and overhaul existing wagons.
In addition to financing, the EBRD will provide technical assistance to help the company strengthen corporate governance, upskill its workforce and increase rail transport safety.
The EBRD is also supporting rail upgrades in the rest of the Western Balkans and its total investment will reach EUR 1 billion in 2022.