38m-euro agreement signed for rehabilitation of railway network in Kosovo

38m-euro agreement signed for rehabilitation of railway network in Kosovo

The Minister of Finance, Labour and Transfers of Iron Murati and the European Bank for Investment Operations for the Western Balkans and Turkey, Matteo Rivellin, have signed today the financial agreement on additional financing for rehabilitation of the 10th Iron Line in Kosovo. The 38m-euro deal aims to rehabilitate 139km of railway line, [...]

The 38m-euro deal aims at the rehabilitation of 139km of railway line, in signalistics and telecommunications respectively. The project is expected to have an important impact on increasing travel speed and raising passenger and goods capacity. Also, investments in the railway line are expected to lead to a modern shift from road transport to railway, as well as contribute to regional transport interconnection and integration in the Orient/East-Mede Corridor.

The project has only secured financing, worth over 137m euros, of which about 56m are grants from the Western Balkan Investment Framework, while this agreement raises the funding provided for the project to over 175m euros.

With the signing of this agreement, Minister Murati said the 10th Railway Route “is one of the most important railway lines connecting Kosovo with other countries, and its rehabilitation remains an early priority. The agreement we are formally signing today is of great importance to ensure that we are connected with our trade partners and to ensure the mobility between our country and the region. ”

On his side, Rivelin expressed the EU's commitment to promoting regional integration, saying that “creating modern, sustainable and efficient transport infrastructure is a prerequisite for stronger economic relations and better living conditions”.

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