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EBRD supports air safety in Serbia and Montenegro
€33.5 million to help improve air navigation systems
The EBRD is lending the Serbia and Montenegro Air Traffic Services Agency
(SMATSA) €33.5 million to help improve the efficiency, reliability and safety
of air-navigation systems at the Belgrade and Podgorica airports and bring
them in line with international standards.
The air-traffic agency, owned by the Republic of Serbia and the Republic of
Montenegro, will use the loan to modernise the airports’ air-traffic control
centres, improve surveillance operations, and further develop navigation and
communication infrastructure.
Jean Lemierre, President of the EBRD, said this project is part of the Bank’s
ongoing commitment to Serbia and Montenegro. A major benefit of this latest
deal is the improved efficiency and safety it will bring to Belgrade and
Podgorica airports, which are important for the development of business and
tourism, said Mr Lemierre. At the same time, it will help consolidate the
institutional and financial position of the independent air-traffic services
provider, and support Serbia and Montenegro’s compliance with the Eurocontrol
European Convergence and Implementation Plan, which sets requirements European
states must comply with under their international obligations.
The loan is part of a €112 million investment package which, in addition to
other institutions, is being supported with a €34 million loan from the
European Investment Bank. To help prepare the project, the Swedish government
provided €50,000 in grant financing, while the US Trade and Development Agency
granted €715,000 to help train local staff.
Established in 2003, SMATSA is 92 per cent owned by Serbia and 8 per cent
owned by Montenegro, and employs more than 750 staff. Nikola Stankov, General
Manager of SMATSA, said this loan will help fund a safety and modernisation
plan which we believe will bring air traffic control across Serbia and
Montenegro in line with the general objectives of the European Convergence and
Implementation Plan. It will also promote SMATSA as a better Air Traffic
Safety provider in the region, especially important in the context of regional
cooperation, he added.
The project reiterates the important role the Bank is playing in supporting
air traffic safety in this region. In 2003 the Bank lent the state-owned
company Airports of Montenegro €11 million to help improve safety at two local
airports, which is progressing well. The EBRD is one of the largest investors
in Serbia and Montenegro having invested more than €663 million in 34
projects. From 22-23 May 2005 the Bank will hold its Annual Meeting in
Belgrade.
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