Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Serbia
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
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.
Board Decision Date: 2016-11-16
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 or Client: JSC Serbian Railways
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Transport
Investment Amount (USD): $ 97.40 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 91,500,000.00
Converted using 2016-11-16 exchange rate.
Project Cost (USD): $ 117.20 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 110,000,000.00
Converted using 2016-11-16 exchange rate.

Share This Page

 

Contact Us

Do you have more information on
this project, or want to get involved?
Contact EWS

Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-04-06
Disclosure Date: 2016-11-16
JSC Serbia Railways - I
EBRD-48409

Project Description
This project involves the reallocation of an existing sovereign guaranteed loan of EUR 95 million to JSC Serbian Railways (project number 42262). The reallocation follows a decision by the Government of Serbia to unbundle vertically integrated JSC Serbian Railways. The existing loan is being restructured to reassign loan proceeds to the operating companies established in August 2015 - EUR 91.5 million to Infrastructure of Serbian Railways JSC (project number 48409) and EUR 3.5 million to Srbija Voz JSC (project number 48410).
Investment Description
Infrastructure of Serbian Railways JSC, a state-owned enterprise responsible for the management of national railway infrastructure established in August 2015 as a result of the unbundling of the vertically-integrated JSC Serbian Railways.
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 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.