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Fiscal Consolidation and Stabilization in 2014

B. Belgrade lies at the point where the Sava River meets the Danube. It is surrounded on three sides by riverways. Hence its appellation as the “Gateway of the Balkans , ” and the “Doorway to the Central Europe.”. Fiscal Consolidation and Stabilization in 2014.

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Fiscal Consolidation and Stabilization in 2014

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  1. B • Belgrade lies at the point where the Sava River meets the Danube.It is surrounded on three sides by riverways. Hence its appellation as the “Gateway of the Balkans,” and the “Doorway to the Central Europe.”

  2. Fiscal Consolidation and Stabilization in 2014 • Made drastic cuts in government spending by slashing public company administrative and miscellaneous costs. • Balanced and passed the first realistic budget in years, and implemented modern, budgetary planning procedures, on a consolidated basis of all city-owned entities. • Achieved financial consolidation and stabilization in this fiscal year. First half of the year is on plan. • 2015 will be dedicated to investment projects and development. 

  3. Belgrade Waterfront • Project was presented at MIPIM Cannes • Preparation of all planning and zoning documentation is underway • Construction set to begin in 2015 • Phase I – Construction of the highest tower on the Sava River - a luxury hotel with residential and commercial suites (180 meters tall). Completion within 3.5 years • Entire development to be completed within ~10 years • Tower co-financed and constructed by Eagle Hills Group, Abu Dhabi. • Total investment planned: €4B • Total construction land area: 1.8M m2 • 50,000 workers to be employed • 45,000 new jobs created following construction • This accounts for a planned increase in the City’s GDP of 5%

  4. Planned Investments • BELGRADE METRO SYSTEM • France financed a recent study on General Concept for the Design of our Metro (EGIS prepared doc). • Three Phases of Construction defined having a 3-year completion period for each phase. Total construction time of Metro System: ~9 yrs • Compatibility of existing BG:Voz urban rail and the entire public transport system has been foreseen. • REQUIRED: A Detailed Study or Master Plan of theentire BG Public Transport system. • Exclusive negotiating rights with ALSTOM expire in August 2014.Bilateral Financing arrangements not agreed.EBRD is a potential creditor. • Interested investors fr: China, France, Italy • Value of Investment (~€1B): to be defined once • the Detailed Metro Design Plan is completed.

  5. Planned Investments • Vinča Solid Waste Plan and WtE Plant • Belgrade has adopted a Waste Mgt. Plan and will build a zero waste concept. The WM Plan defines a system involving the separate collection of waste, recycling of all recyclables, processing via mechanical-biological treatment of organic waste, production of RDF and its use in production of combined heat and power, as well as recycling of demolition and construction waste, and composting of green waste. • Value of this project is approximately EUR 250M.CoB will structure a PPP deal with the IFC as advisor, and has a well-advanced project ready to seek funding. The project is generating strong interestboth from potential investors and IFIs. • Tender process will be fully transparent and accessible for all major companies, beginning in the spring of 2015.

  6. Planned Investments • UNDERGROUND PARKING GARAGES16 garages to be built over a 4-year period in the city center.3,000-5,000 city center parking spaces needed • PPP deal to be structured • In 2015, will invite private partners to participate in the new construction of 4-5 underground parking garages. Garages to be constructed on: • Djeram Pijaca (Green Market) • Kosovska St. (National Assembly) • Skerlićeva (National Library) • Studentski Trg (near Universities)

  7. Planned Investments • New Central Bus Station on Novi BeogradMain Station to be moved from City center to spacious New Belgrade, near suburban-urban rail connections.Alleviates heavy traffic congestion and decreases CO2 emissions. • Detailed Urban Plan being prepared.Land ownership being defined. • Will seek private investors once complete. • Construction deadline: 2017

  8. Planned Investments • New “Beograd Centar” Main Train StationExisting central train station to be moved to the “Beograd Centar” (Prokop) area, per requirements of Belgrade Waterfront Development.Prokop is located at the entrance to City Center, between Senjak and the E-75 Hwy.Total investment: ~ €25M • To be completed: 2016

  9. Planned Investments • BG Voz Suburban-Urban Rail • Expansion of existing Suburban-Urban rail is planned in III phases.Seeking funding from investors (and IFIs) to expand the entire commuter rail network (new stations, parking lots, etc).Phase I: ~€13M Phase II: €12M-€14M (mid-2015) 15 kmPhase III: 45 km – connecting south suburbs The existing commuter line spans ~25km from the City Center (Pančevo Bridge) to Batajnica, a suburb in which there are several large international companies, with a rapidly growing population. • Current ridership: 34,000 passengers daily

  10. Planned Investments • Beogradski Vodovod i Kanalizacija(Water and Sewerage Company) • Presently securing EBRD funding to complete the Makiš II water pipeline expansion, to increase water supply and enable new filtration capacities. • Municipal water supply and sewage network will be a strategic investment for many years to come. • Waste Water Treatment Five WWT facilities to be built. • Investment value: EUR 144.5 • Funding sought.

  11. Planned Investments • Belgrade “Nikola Tesla” Airport • Passenger and Cargo Terminals • Presently reviewing various PPP transactions that have been made in the airport services sector in the region (e.g. Aéroports de Paris and Bouygues Construction in Zagreb) • National Air Carrier: Recent sale of JAT minority stake to Etihad who has added new routes and a new fleet. • JAT was successfully re-branded to Air Serbia. • Direct transoceanic flights to US planned to restart by 2015.

  12. Priority Infrastructure Projects • Completion of the “ring road highway” around the city center, aimed at alleviating substantial city traffic congestion • Dislocation of heavy vehicle (freight) traffic through the city center To be achieved following the completion of the Outer Highway (SMT) with a bridge spanning the Danube and the Inner Highway (UMT). • Topčider Tunnel connecting the new Ada Bridge and a principal highway • Displacement of the Main Train and Bus Stations from the City Center to Prokop Station and New Belgrade sites. • Construction of a new Main Bus Station, as well as Suburban-urban rail train stations are planned on New Belgrade • New railway capacities for freight transport in Makiš and in Zemun • Reconstruction of Slavija Square, Bulevar Oslobodjenje and Vojvode Stepe Streets • Yet, the most significant construction project planned in the years ahead, is the Belgrade Waterfront project.

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