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The Government of the Republic of Serbia

In the service of citizens

Confirming international agreements in the field of rail and postal traffic

Belgrade, 15 October 2007

Serbian ministers of finance Mirko Cvetkovic and of telecommunications and information society Aleksandra Smiljanic presented today in Serbian parliament bills on confirming international agreements in the field of rail and postal traffic.

Cvetkovic presented the bills on confirming the Agreement on guarantee (Serbian railways - vehicles between Serbia and the European Bank for Reconstruction and Development) and the Agreement on guarantee between Serbia and the European Investment Bank for the Project of reconstruction of railroads II.

He explained that these are loans which the public railway company "Zeleznice Srbije" has taken under very favourable circumstances. The Serbian parliament gives guarantees that the state will repay these loans if the public railway company is unable to do so. The first agreement deals with procurement of over 1,000 railway trucks, the Minister said and explained that the funds will be withdrawn until 2010, but the repayment of the loan will not start before 2010 and will last until February 2021.

The second agreement deals with a loan for reconstruction of the rail network at the international Corridor 10 and purchase of railway trucks, also with a favourable 20-year repayment period and 10-year grace period. Presenting the Bill on confirming the acts of the Universal Postal Union, Smiljanic said that Serbia should confirm several acts that were adopted at the congress held in Bucharest in 2004, and refer to improvement of postal services and introduction of the system of costs.