Belgrade Public Transport and Traffic Infrastructure

signed

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. The third component has been fully implemented.  Segments of the first two components have been completed (Vojvode Stepe Street).  Otheres are currently under implementation (Slavija Square, Bulevar Oslobodjenja, Ruzveltova Street, Mije Kovacevica Street) with the expected completion by the end of 2017. As a new phase (beginning in late 2017), restructuring of the outstanding amount under the Original Loan and First Loan Extension by revision of key financing terms and provision of an additional EUR 15 million ("Second Loan Extension") for continuation of investments under the second component above. The loan proceeds will be used for reconstruction of the Kneza Milosa Street and construction of an underground garage under this major City boulevard.