The EBRD is proposing priority rehabilitation works on the country’s main railway network, focusing on the north-south Pan European Corridor X.
The objective of the project is to maintain the railway’s capacity and increase its operating efficiency and labour productivity to enable it to handle current and projected demand as economically as possible.
The proceeds of the EBRD loan would finance labour severance payments, the purchase of track maintenance machinery and spare parts, and the refurbishment of electric locomotives.
The project would promote market efficiency by ensuring that Corridor X remains a viable route for international freight connections. The project would also help to strengthen institutional structures by supporting institutional reform, such as the development of a Labour Restructuring Plan and a new Railway Law.
ZTP Belgrade is responsible for railway operations in Serbia.
The EBRD is considering a loan of €57 million. In addition, grant funding from Canada has been obtained for management information systems and is also being sought for an institutional study.
The project has been screened B/0, requiring the preparation of an environmental analysis, which is currently under way. The environmental impact associated with the investments is not considered to be significant and will, most likely, be limited to ensuring the environmental soundness of the track maintenance machines and refurbished locomotives. Worker health and safety issues will also be covered in the analysis. On the basis of the findings of the analysis, an environmental action plan (EAP) will be prepared in line with the EBRD's Environmental Policy and Procedures and Environmental Performance Standards and Good Practices related to Railway Modernisation. This will be incorporated in ZTP's overall restructuring plan. As a condition of the Bank’s involvement in the financing of the investments, ZTP will need to develop in-house capacity for environmental management.
TC funding is being sought for an institutional study with an estimated cost of €0.7 million.
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