The European Investment Bank (EIB) said on June 17 it will lend €10.3mn to Serbia and Montenegro Air Traffic Services SMATSA to improve efficiency and safety of air travel.
SMATSA manages the air traffic over the two countries and controls corridors that are key regional, European and global air routes used by tens of millions of passengers and cargo operators from across the globe.
“The EIB funds will enable SMATSA to upgrade the reliability and interoperability of its air traffic control services and align them with the Single European Sky (SES) regulations, an EU-level policy introduced to better connect Europe by offering a single regulatory framework for air transport,” the EIB said in the statement.
The funds should also boost connectivity across Europe and increase the quality of core air transport infrastructure and services, contributing to more efficient regional travel.
The EIB previously lent SMATSA €45mn for modernisation of air navigation systems.
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