SUSTAINABLE IMPROVEMENT OF ROAD NETWORK (EIB-20190805)

Countries
  • Serbia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 14, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
PUBLIC ENTERPRISE ROADS OF SERBIA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 170.05 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 150
Converted using 2025-04-14 exchange rate.
Project Cost (USD)
$ 340.10 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 300
Converted using 2025-04-14 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Apr 23, 2025

Disclosed by Bank Dec 20, 2024


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project concerns a multi-scheme and multi-faceted investment programme in the form of an up to €150m framework loan to the Republic of Serbia, acting as borrower and represented by the Ministry of Finance. The objective of the project is to improve the road network in Serbia, with interventions focusing on rehabilitation, reconstruction and upgrade of the infrastructure. There is no new road construction involved.

The promoter is the Public Enterprise "Roads of Serbia", a public enterprise and well-known EIB counterpart, with a similar EIB financed project currently under implementation, having a focus on road safety measures on national roads across the country ("Road Rehabilitation and Safety" (2012-0367)), for which EIB approved in 2023 an increase of its financing contribution. The increased EIB participation is supported by technical assistance to perform road safety impact assessment, with outcomes expected to be replicated in this new EIB operation proposal.

Interventions will take into account climate adaptation, climate resilience, road safety improvement, safeguard of existing assets, protection of the environment and improved connectivity.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The works will be located on existing roads without intended change to their right of way and lane configuration but might nonetheless lead to the addition of sidewalks or paths for cyclists, the adjustment of curve radius, and other relatively minor alignment rectifications, where deemed necessary.
No Environmental and Social Impact Assessment (ESIA) is envisaged for any schemes under the Project as the works involve rehabilitation, reconstruction and minor upgrade works on existing roads. It is expected that there will be only limited negative environmental impacts, for which the proposed mitigation measures will be reviewed at appraisal. In case a scheme nonetheless falls under Annex II of the Directive, it will be subject to screening.
The individual schemes would generally fall outside the scope of the corresponding EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU, if located within the EU. In Serbia, the Competent Authority for environmental enforcement is the Serbian Ministry of Environment (MoE).
The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate adaptation, pollution prevention and control.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

A multi-scheme and multi-faceted investment programme in the form of an up to €150m framework loan.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

JP Putevi Srbije or Roads of Serbia, is a Serbian construction company headquartered in Belgrade, Serbia. It is the national road construction company of Serbia.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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