The World Bank said it is lending $51.3mn to Bosnia & Herzegovina’s smaller entity, Republika Srpska, to upgrade of its railways sector.
The project aims to improve the operational efficiency and financial sustainability of Republika Srpska’s troubled railways operator through financial, workforce and organisational restructuring.
“We expect that once this process is completed the RS Railways will become financially sustainable and will provide better services,” Antonio Nunez, World Bank senior transport specialist, was quoted as saying in the statement.
The overall railway restructuring plan would be implemented over the period 2018-2021.
Currently, Republika Srpska’s railways operator transports fewer than 500 paying passengers daily at a total cost of about BAM 20mn (€10.2mn) a year.
Currently, the World Bank has 11 active projects in Bosnia worth combined $556.68mn.
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