Serbia and Montenegro Air Traffic Services Agency gets loan of EUR 20 million from EBRD

The European Bank for Reconstruction and Development (EBRD) is extending a loan of up to EUR 20 million to Serbia and Montenegro Air Traffic Services (SMATSA), for an upgrade of the air navigation system. It will be accompanied by a loan of up to EUR 25 million from the European Investment Bank (EIB).

As the EBRD announced, the loan will be used to finance the upgrade of SMATSA's air navigation information technology system to the latest TopSky ATC One version developed by Thales Air Systems.

This advanced software will enhance operational capabilities, maximize runway capacity and reduce delays, ultimately improving air traffic flow management. The upgrade will also boost SMATSA’s efficiency and lower costs by reducing delay penalties and maintenance expenses.

The loan agreement was signed by Matteo Colangeli, EBRD Regional Head of the Western Balkans, and SMATSA Chief Executive Officer (CEO) Predrag Jovanovic.

– We are grateful to the EBRD for their support in significant project of SMATSA main Air Traffic Management System upgrade. This investment will improve the quality of the services SMATSA provides and significantly contribute to operational efficiency. The capacity will be increased, and delays reduced, benefiting airlines and passengers alike. The project is in line with the "Green Agenda" and contributes to the reduction of CO2 emissions – SMATSA CEO Predrag Jovanovic said.

He added that, beyond technology, the investment emphasized their workforce development and inclusivity, with targeted efforts to attract young talent and increase women’s representation in aviation.

– We are excited to take this transformative step forward for air traffic management in Serbia and in Montenegro – Jovanovic concluded.

SMATSA is 92 per cent owned by Serbia and 8 per cent owned by Montenegro through a limited liability company incorporated in Serbia.

Serbia and Montenegro Air Traffic Services

SMATSA

European Bank for Reconstruction and Development

EBRD

European Investment Bank

EIB

Matteo Colangeli

Predrag Jovanović

air navigation

upgrade of air navigation system