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The Government of the Republic of Serbia

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Serbia, IFC cooperating on port, infrastructure development

Belgrade, 5 April 2022

Minister of Construction, Transport and Infrastructure Tomislav Momirovic and Regional Manager for Central and Southeast Europe of the International Finance Corporation (IFC) Ary Naïm signed an Agreement in the government of Serbia today on cooperation in public project of public-private partnership (PPP) in the field of infrastructure.

Thanks to the agreement signed today, the IFC will cooperate with the Ministry of Construction, Transport and Infrastructure in drafting quality documentation for public-private partnerships in infrastructure projects, and IFC will bear 80% of the costs.

After signing the agreement, Momirovic said that the agreement lays the foundations for the full utilisation of all transport capacities that should follow, and positioning Serbia as an important traffic hub.

To meet this goal, we must implement important projects for the development of river and air transport. It is for the realization of these projects that the signing of the agreement is of great importance, said Momirovic.

The Minister assessed that the "Nikola Tesla" Airport, which has good results despite the coronavirus pandemic, is an example of a good concession, and reminded that in Serbia, the law prescribes that ports be developed by awarding port concessions.

He also said that the development of intermodal terminals according to the model of public-private partnership and concessions will be considered in the coming period.

In cooperation with the IFC, our country will receive the highest quality concession documentation for the implementation of PPP projects, with 80 percent of the costs of the documentation being borne by the IFC. The first two projects, by implementing this agreement, are the ports in Prahovo and Bogojevo, Momirovic noted.

The Minister said that at the same time, Serbia will get IFC as a world-renowned concession advisor, which will additionally attract large world companies to concession procedures.

He also pointed out that Serbia is slowly entering the final phase of building the basic traffic infrastructure and added that the construction of ten highways and expressways connects Serbia with the entire region and the EU, but also connects itself and connects efficiently.