Serbia gets its biggest ever EU grant for Belgrade-Nis rail revampReading Time: < 1 minutes
Serbia is set to receive a EUR 600mn handout from the EU towards its around EUR 2.2bn reconstruction of the 230km Belgrade-Nis railway link, which will drastically cut journey times in Central and Eastern Europe (CEE).
Spanning the country from north to south, Belgrade-Nis is a key travel route and delivery hub for Serbia and CEE as a whole, and connects Western Europe to the Western Balkans, Greece and Turkey.
The line is likewise an important part of the Western Balkans Investment Framework, which supports the economic development of the Western Balkans.
According to Euractiv, European Investment Bank has also approved a loan of EUR 1.1bn for the reconstruction, and the European Bank for Reconstruction and Development has allocated EUR 550mn, with the remaining cost to be covered by Serbia. The project is scheduled for completion by 2029.
The grant for the strategically important Transeuropean transport network is the largest single grant that Serbia has ever received from the EU. Earlier this month the EU candidate country also received a EUR 165mn energy support package from the bloc.