China Eximbank provides $988.3 million preferential buyer’s credit for Novi Sad-Subotica-State Border (Kelebija) Section of the Hungarian-Serbian Railway Project (Linked to Record ID#67020 and #68443)

📋 Staff Comments

1. This project is also known as the Project of Modernization and Reconstruction of Hungarian Serbian Railway Connection in the Territory of the Republic of Serbia, for Section Novi Sad-Subotica-State Border (Kelebija). The Chinese project title is 诺维萨德-苏博蒂察段高速铁路 (匈塞铁路). The Serbian project title is Пројекат модернизације и реконструкције мађарско-српске железничке везе на територији Републике Србије, за деоницу Нови Сад – Суботица – државна граница (Келебија).
2. This China Eximbank-financed project is linked to Project ID#67020, which captures the China Eximbank PBC for the Belgrade-Stara Pazova Section of Hungarian-Serbian Railway Project. It is also linked to Project ID#68443, which captures the China Eximbank loan for the Hungary section of the Hungary-Serbia Railway.
3. The $988 million China Eximbank PBC that support this project is not recorded the China’s Overseas Development Finance Dataset, which Boston University's Global Development Policy Center published in December 2020.
4. The China Eximbank PBC (loan) agreement [CHINA EXIMBANK PBC NO. (2019) 4 TOTAL NO. (487)] can be accessed in its entirety via https://www.dropbox.com/s/zfq67m03wsm0y7w/2019%20China%20Eximbank%20loan%20agreement%20for%20Project%20of%20Modernization%20and%20Reconstruction%20of%20HungarianSerbian%20Railway%20Connection%20in%20the%20Territory%20of%20the%20Republic%20of%20Serbia%2C%20for%20Section%20Novi%20Sad-Subotica-State%20Border%20%28Kelebija%29.pdf?dl=0.
5. The Serbian section of the railway was divided into three sections. The first section, Belgrade-Stara Pazova, is 34.5 kilometers long. The second section from Stara Pazova to Novi Sad is 40.5 kilometers long, and the third section from Novi Sad to Subotica is 108.1 kilometers long. The first section and second sections of the railway are being constructed by the consortium formed by China Communications Construction and China Railway International, while the second section of the railway is the responsibility of Russian Railways International.

📚 Sources & References

• Share to phone Hungary-Serbia Railway, the flagship of the Belt and Road Initiative, 2017 Annual Report, 2019 China Eximbank loan agreement for Project of Modernization
• Belgrade-Budapest high-speed railway is a symbol of friendship between Serbia and China
• Budapest-Belgrade rail-line upgrade gets under way
• Budapest-Belgrade railway upgrade financing agreement signed
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• China and Serbia Expanding Cooperation
• China inks deal to finance new high-speed railway across the Balkans
• China's first railway project in the European Union, the Hungarian-Serbian railway, has made new and important progress
• Chinese-built Hungary-Serbia railway makes great progress
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• Europe economy: The 16+1: mixed results and modest prospects
• Fifth Sitting of the First Regular Session of the National Assembly of the Republic of Serbia in 2019
• Hungary classifies Budapest-Belgrade Chinese rail project
• Hungary is building a high-speed train connection to Serbia with Chinese loan money*** TRANSLATED ***
• Hungary signs China-backed Budapest-Belgrade rail project
• Hungary signs loan agreement for construction of Belgrade-Budapest railway
• Hungary signs €1.85bn loan contract on upgrade of Belgrade-Budapest railway
• Hungary to Serbia railway now well on track
• Hungary's parliament codifies Budapest-Belgrade rail line upgrade
• Hungary
• China sign loan deal for Budapest-Belgrade rail project
• Hungary, eager for loan, wants to classify details of Budapest-Belgrade Chinese rail project
• Hungary-Serbia Railway Project Makes Significant Progress Hungarian Section Signs Loan Agreement
• Hungary: Budapest-Belgrade rail project to get classified
• MP presses charges related to Belgrade-Budapest rail project
• NOTIFICATION ON ENVIRONMENTAL IMPACT ASSESSMENT IN A TRANSBOUNDARY CONTEXT ACCORDING TO ESPOO CONVENTION
• Parlt codifies commitment to Budapest-Belgrade rail line upgrade
• PREFERENTIAL BUYER CREDIT LOAN AGREEMENT
• PREFERENTIAL BUYER CREDIT LOAN AGREEMENT
• Public Finance Bulletin, 2020
• Public Finance Bulletin, 2021
• Public Finance Bulletin, 2022
• Public Finance Bulletin, 2023
• Public Finance Bulletin, 2024
• Public Finance Bulletin
• December 2018
• Public Finance Bulletin
• December 2019
• Public Finance Bulletin
• December 2020
• Public Finance Bulletin
• December 2021
• Public Finance Bulletin
• January 2018
• Public Finance Bulletin
• September 2022
• RZD in talks to join Serbia's Novi Sad-Subotica railway overhaul
• Serbia implementing Belgrade-Budapest rail project despite coronavirus crisis
• Serbia Seeks China's Assistance Amid EU Pressure on Belgrade
• Serbia signs 606 mln euro road construction deal with China's CRBC
• Serbia to launch Novi Sad-Subotica railway overhaul in autumn
• Serbia to start Fruskogorski Corridor road project in Q1
• Serbia
• Hungary Seal Rail Deal at Belgrade Summit
• Serbia/Hungary: Two agreements on cooperation in rail sector signed
• Tests begin on Novi Sad – Subotica railway
• The first European project of China Railways is expected to start construction in November
• The government is hurtling towards a new danger at over 200 km/h
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• UPDATE 1-Hungary
• China sign loan deal for Budapest-Belgrade Chinese rail project
• Varga: Credit contract on Budapest-Belgrade railway upgrade signed, Министар Мали потписао два уговора са Ексим банком – за изградњу аутопута Прељина-Пожега и деоницу брзе пруге Нови Сад-Суботица, ПРОЈЕКАТ МАЂАРСКО - СРПСКЕ ЖЕЛЕЗНИЦЕ: РЕКОНСТРУКЦИЈА И МОДЕРНИЗАЦИЈА ПРУГЕ БЕОГРАД - НОВИ САД - СУБОТИЦА - ГРАНИЦА СА МАЂАРСКОМ (КЕЛЕБИЈА) - (БУДИМПЕШТА) - ДЕОНИЦA ПРУГЕ БЕОГРАД ЦЕНТАР – СТАРА ПАЗОВА, У Новом Саду, у Партизанској улици, данас почело рушење железничког подвожњака, у оквиру изградње брзе пруге Нови Сад – Суботица – Келебија државна граница, „Serbian Railways“ Director General Dragoljub Simonović Discussed with Representatives of Chinese EXIM Bank and Hungarian Railways in Belgrade on Modernization of Belgrade - Budapest Line
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