Description

Provision of a loan of EUR 57 million in November 2011 to the City of Belgrade ("Original Loan") extended by additional EUR 30 million in July 2013 ("First Loan Extension") to co-finance key investments needed to complete the City's transport and traffic management programme. The loan proceeds are used for three components: (i) major renovation of the tram tracks in central Belgrade to allow for the new trams to operate on the tram lines; (ii) the City's main roads renewal and extension to secure a better and safer traffic flow in the City of Belgrade; (iii) procurement of 30 new trams to be operated on refurbished tram tracks.