A LOAN of USD 40 million to Serbia in order to reduce the CONGESTION at the border
The World Bank has approved a loan of USD 40 million to Serbia for the implementation of a project that is to reduce waiting time at border crossings. The Minister of Transport Zorana Mihajlovic provided additional details, saying this is a regional project involving Northern Macedonia and Albania, and World Bank’s loan to all three countries is USD 90 million. “The World Bank has approved USD 40 million dollars to Serbia within the framework of the Trade and Transport Facilitation project, which very goal is reduction of waiting time at border crossings,” says Mihajlovic. The loan contracted this year was ratified at the National Assembly in late May. Beneficiaries of approved funds are the Customs Administration, “Infrastruktura zeleznice Srbije”, public enterprises “Putevi Srbije” and “Koridori Srbije”, and loan is planned to be operational in the second half of 2019. “In the past four years, Serbia has built around 300 kilometres of highways, and in that period the number of vehicles on our highways has increased from 37 million to nearly 54 million vehicles in 2018.” The World Bank project encompasses several components, among other things facilitating cross-border traffic, developing intelligent transport systems on the Corridor 10, as well as rehabilitating level crossings on railway infrastructure.