Home / EMEA / EUR 82 million EIB -EU financing for railway modernisation in Kosovo

EUR 82 million EIB -EU financing for railway modernisation in Kosovo

More than 80 million euro has been made available by the European Investment Bank (EIB) and the European Commission (EC) for the start of modernisation of 148 kilometres of railways in Kosovo, connecting it to the European network.

A 42 million euro loan agreement for the modernisation of the Kosovo part of the European Route 10 Rail network was signed today by the EIB Deputy Director General Romualdo Massa Bernucci and Kosovo Minister of Finance Avdullah Hoti, in the presence of Head of the EU Office in Kosovo/EU Special Representative Samuel Žbogar.

At the same time, the EU will initially support the project with a 40 million euro grant for project preparation and implementation. An additional 40 million euro in EU grant is potentially envisaged for later stages of the project.

The railway modernization project was included in the investment package approved at the Western Balkan summit in Vienna in August 2015, within European Union’s wider agenda to promote connectivity in the region and with the EU.

The project will integrate the rail network in Kosovo into the Orient/East-Mediterranean Corridor, connecting the Western Balkans to Austria, Greece and Bulgaria, as part of the Core Network Corridors of the Trans-European Transport network (TEN-T).

The Rail route 10 is 250 km long, out of which 148 km are in Kosovo and the rest are in the former Yugoslav Republic of Macedonia and Serbia. The modernisation is expected to start in late 2016 and be finalized by the end of 2020.

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