The European Bank for Reconstruction and Development (EBRD) stands ready to give financial assistance for construction of the railway Corridor 10 running from Subotica to Novi Sad, and from Nis to Dimitrovgrad.
This is what emerged in a meeting between the bank's new director for Serbia Matteo Patrone and Serbian Minister of Transport Milutin Mrkonjic.
''Around EUR 1 billion is needed for works on these sections.
We are preparing necessary documentation. I think that would be completed in the next five months,'' Mrkonjic said.
The railway between Subotica and Novi Sad, and between Nis and Dimitrovgrad is single track, and the one towards Dimitrovgrad has not even been electrified, Mrkonjic told Tanjug, underscoring that the Corridor 10 project requires double track, electrified railways for mixed transport, and train speeds of 160 km/h at least.
''2013 and the following years will be marked by modernization and reaffirmation of our railways,'' the transport minister said.
Since 2001, the EBRD has invested nearly EUR 3.1 billion in Serbia, around EUR 825 million of which in transport infrastructure, EUR 412 million in railways, and around EUR 380 million in roads.