This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Serbian Railways Corridor X (EBRD-41125)

  • 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
Bank Risk Rating
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
Sep 1, 2010
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.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Disclosed by Bank Mar 16, 2010

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

Project Description
PROJECT DESCRIPTION The EBRD is considering providing a sovereign guaranteed loan of EUR100 million to finance: TRANSITION IMPACT The Project will contribute to the transition process by focusing on market liberalisation, which will be addressed through the adoption of a new company structure; assistance to the rail regulator; implementation of access charges and a network statement; and the provision of assistance to monitor energy use. THE CLIENT The Client for this project is Serbian Railways, the state-owned enterprise responsible for both infrastructure and operations, including the transportation of passengers and freight by rail within Serbia. EBRD FINANCE The EBRD will provide a sovereign guaranteed loan of EUR100 million. Technical co-operation funds are also being provided (see below). PROJECT COST The total project cost is EUR296.4 million, with EBRD and EIB providing loans of EUR100 million and EUR150 million respectively. ENVIRONMENTAL IMPACT Categorised B (2008). The environmental and social due diligence, which is currently ongoing, will assess the current status of EHS management systems at Serbian Railways as well as identify and assess potential environmental impacts and benefits of the project. An environmental and social action plan (ESAP) will be developed to structure the project to achieve compliance with the relevant Performance Requirements (PRs). On the basis of a site visit already undertaken by the Bank's Environmental Specialist, the procurement of new locomotives along with a programme of track modernisation, improved signalling, improvement of level rail crossings and landslide prevention structures will improve public safety and yield significant community benefits and limited adverse environmental and social impacts. TECHNICAL COOPERATION The following technical co-operations funds are envisaged as part of this project:
Investment Description

Contact Information
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 or you can submit a complaint online using an online form, You can learn more about the PCM and how to file a complaint at