Commissioner for Neighbourhood and Enlargement Olivér Várhelyi will be in Serbia today to announce a €2.2 billion financial package that will enable a substantial modernisation of the railway tracks of Corridor X.

The Corridor X railway project is one of the Economic and Investment Plan flagship investments, connecting the region with the EU via Croatia, through Belgrade and further to Niš, Skopje and Greece. The project will contribute to the modernisation of the railways in Serbia and improve Serbia’s connectivity with other European rail networks. It is part of the EU’s €30 billion Economic and Investment Plan for the Western Balkans which aims to mobilise investments in the areas of transport, energy, green and digital transition, to create sustainable growth and jobs.

An EU grant of up to €600 million is foreseen for this project. Out of this, €265 million has been already approved so far for the Belgrade – Niš fast railway that will allow to travel between the two cities with the speed of up to 200 km / h and in around 100 minutes. The rest of the package consists of a €1.1 billion loan from the EIB and a €550 million EBRD loan.

During his visit, Commissioner Várhelyi will meet President Aleksandar Vučić, Prime Minister Ana Brnabić, Minister of European Integration Tanja Miščević, and Minister of Interior Bratislav Gašić to discuss accession negotiations priorities, in particular in the rule of law area, and cooperation in the areas of sustainable connectivity, energy, and migration.

The Commissioner will also discuss the EU support to Serbia to face the current energy crisis following the recent signature of the €165 million budget support to help mitigate the energy prices amongst vulnerable households and SMEs under the €1 billion Energy Support Package for the Western Balkans.