High Speed Rail Belgrade to Nis

disbursing

Provision of a sovereign loan for the benefit of Serbian Railways Infrastructure (the “Company” or “SRI”), the state-owned and sole national railway infrastructure asset management company of Serbia. The transaction will finance the rehabilitation and upgrade of the rail infrastructure of rail Corridor X (“Corridor X”), the railway line connecting Belgrade to Niš (c. 243 km-long), with the aim to increase speed to up to 200 kph (therefore significantly reducing the travel time between the two cities) while enhancing quality of passenger and freight rail services (the “Project”). The Belgrade-Niš section is split into five subsections: (i) Stalac-Djunis (18km), (ii) Belgrade Center-Velika Plana (ca. 83km), (iii) Velika Plana-Paracin (ca. 62km), (iv) Paracin-Trupale (Nis), excluding Stalac-Djunis (ca. 58km) and the (v) Belgrade and Niš railway nodes. The modernization of Corridor X is one of the main investments in the railway sector carried out by the Government of Serbia, for it is an axis of national importance connecting Western and Central Europe with Greece, Turkey and the Middle East. The Project will also build up on the Bank’s reform agenda in the Serbian rail sector with a focus on integration, competitiveness by paving the way for an independent rail regulator and the implementation of the Transport Community Treaty and Rail Sector Action Plan but also operational efficiency and corporate governance through the implementation of a gender responsive Corporate Governance Action Plan and enhanced Corporate Development Programme, as well as gender equality and human capital development through regulatory structural reforms. Corridor X – Belgrade to Nis Download package in English Corridor E-S assessment (English) Download package in Serbian Corridor E-S assessment (Serbian) Corridor X – Belgrade to Nis: Stalac Dunis sub-section Download package in English Download package in Serbian Corridor X – Belgrade to Nis: Paraćin to Trupale (Niš) Sub-Section Disclosure Date: 29 July 2025 Download package in English Download package in Serbian SRI Website: www.infrazs.rs Paraćin to Trupale (Niš) Sub-Section: Serbian | English Address: Nemanjina st.6, 11000 Belgrade, Serbia Offices and websites of EBRD Belgrade Resident Office Bluecentre building Španskih boraca 3, 6th floor 11070 Novi Beograd, SerbiaTel: +3381 11 212 0529/0530 Environmental and social enquiries Ms. Ana Kopren Ana.kopren@srbrail.rs  Tel: +381 11 3618 212 Nemanjina st.6, 11000 Belgrade, Serbia infobgnis@srbrail.rs