BEIJING, Nov. 9 (Xinhua) -- The Export and Import Bank of China (Exim Bank) signed memorandum of financing with Serbian and Hungarian governments to provide financing support for construction of the Hungary-Serbia railway.
Hungary-Serbia railway is an important session of the central Europe land-sea express and is the first European railway contracted to build by Chinese companies. The railway is designed to be 350 kilometers long with a projected speed of 200 kilometer per hour.
Upon completion, the railway will significantly improve the efficiency of freight transport between Hungary and Serbia and promote regional economic development and connectivity.
Moreover, the Exim Bank also signed an agreement with Bosnia and Herzegovina to provide funding for Tuzla power station project as well as a lending agreement for the second phase of Serbia's E763 highway.
Tuzla power station is a flagship energy project in Europe and the E763 highway is expected to greatly improve local infrastructure condition. (Edited by Yang Qi, firstname.lastname@example.org)