Serbia Voz: TPS Zemun Project - Loan II (EBRD-50043)

Countries
  • Serbia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 16, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
SRBIJA VOZ JSC
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
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, etc.
Investment Amount (USD)
$ 25.91 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 22 Million
Converted using 2017-11-16 exchange rate.
Loan Amount (USD)
$ 25.91 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 22
Converted using 2017-11-16 exchange rate.
Project Cost (USD)
$ 72.32 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 61.4
Converted using 2017-11-16 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Sep 11, 2018

Disclosed by Bank Aug 3, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to EBRD website, the project is a sovereign guaranteed loan in the amount of up to EUR 22 million of a programme of two loans to Srbija Voz JSC for the refurbishment and upgrade of the Technical Passenger Station Zemun, and acquisition and installation of various information technology systems. 

It aims to provide additional maintenance capacity to support the Company's rolling stock growth and to respond to the closure of the facilities in downtown Belgrade, provide an adequate maintenance facility for the Company's new generation Swiss-made EMUs, as existing facilities do not meet the minimum requirements, and to reduce the empty coaching stock moves due to its location on the international Corridor X and proximity to Belgrade. Acquisition of information technology systems will allow the Company to improve its planning, controlling and resource management activities.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project Contact: Jugoslav Jovic, Director General
Email Address: jugoslav.jovic@srbrail.rs
Telephone No.: +381 11 3616 789
Office Address: 6 Nemanjina St. 11000 Belgrade

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.