World Bank to help maintenance of Serbian railway infrastructure with 65 mln dollars

BELGRADE - Serbia will step up maintenance of its railway infrastructure with new 65 mln dollar support from the World Bank, the international financial institution has announced.

"This is the second tranche of the Multiphase Programmatic Approach (MPA) for Serbia Railway Sector Modernisation Project, which is helping the country build a safer, more efficient, and climate friendly rail sector," a World Bank statement said.

"Serbia has invested substantially in the expansion of its rail network in recent years, with estimates at over 2.3 bln dollars to date and efforts forecasted to continue for the next five to six years.

Regular maintenance is therefore essential for safeguarding these major public investments and to ensuring the quality and safety of these critical transportation services," it said.

"Through this phase of the project, the goal is to enhance the capacity to better maintain the existing railways infrastructure, modernise railway maintenance facilities and improve asset management and planning," said Nicola Pontara, World Bank Country Manager for Serbia.

"This stage of the program also opens up the opportunity for greater involvement of the private sector in intermodal interventions and last-mile connectivity," he said.

"As in Phase 1 of this MPA, this stage of the project is jointly co-financed in equal parts by the World Bank and French Development Agency, reflecting the two institutions’ mutual alignment of key policy priorities in areas such as green transport and regional integration," the statement also said.