Special
EBRD plans to increase railway investment in the Western Balkans
Seetao 2021-09-15 09:35
  • The European Bank for Reconstruction and Development's electrification and market opening can help railway development
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The European Bank for Reconstruction and Development (EBRD) said it will increase investment in the western Balkan rail network, including Albania, Bosnia and Herzegovina, North Macedonia, Montenegro, Serbia and Kosovo, to help the region improve connectivity while addressing climate change.

Ms. Nandita Parshad, Managing Director of the Sustainable Development Department of the European Bank for Reconstruction and Development, said: “Railways not only play a key role in any balanced transportation system, they are also the key to sustainable transportation methods and play a role in responding to today’s climate emergencies. Plays a key role.” The Infrastructure Group said in a speech at the Western Balkan Railway Summit held in Belgrade on September 13.

So far, the European Bank for Reconstruction and Development has invested nearly 1 billion euros in the railway sector in the Western Balkans. Passard said that the European Bank for Reconstruction and Development is determined to increase investment and mobilize private sector participation. "Of course, we will continue to provide policy and technical assistance support to promote the development of the railway sector in the region."

The European Bank for Reconstruction and Development has identified three investment priorities. The first is electrification, which requires hundreds of millions of euros to be spent on infrastructure and rolling stock, as well as improved signaling and digitization. Second, the European Bank for Reconstruction and Development stated that it is important to open the railway market to ensure faster and more efficient cross-border transportation, and to cooperate with the government to promote regulatory and legislative measures that promote market opening and interoperability.

Third, the European Bank for Reconstruction and Development stated that improving the governance and capabilities of national railways is of utmost importance. It stated that the ambitious plan to improve service quality and speed in accordance with EU standards will require further strengthening of the ability to prepare and implement projects and basic reforms in the industry, improve corporate governance and strengthen safety and maintenance.

Keywords: international engineering news, foreign engineering project information

Parshad urged: “Given that transportation accounts for about a quarter of global greenhouse gas emissions, and rail is cleaner than road transport, the shift to rail transport will have a huge positive impact on emissions reduction and air quality.” This is an excellent opportunity for the transportation sector to decarbonize, and it is also an opportunity that we must not miss."Editor/Baohongying

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