Harrisons has provided Serbian advice to the EBRD related to its EUR 35 million loan to the Serbia and Montenegro Air Traffic Services LLC.
The Serbia and Montenegro Air Traffic Services Agency is the regional air traffic control service covering Serbia, Montenegro, and about 55% of Bosnia and Herzegovina. The funds will be used to finance part of the required upgrade program for Single European Sky compliance (hardware and software upgrades of SMATSA’s air traffic control system), and ultimately improve air navigation services in the two countries.
According to Harrison's, "this comprehensive modernization program falls in line with the harmonization process of the European Common Aviation Area, which aims to make air services across Europe more affordable and efficient, for the benefit of passengers and other users of airspace."
Ines Matijevic-Papulin, Head of Finance at Harrison's, led the firm's team, assisted by Senior Associate Jovan Cirkovic and Associate Aleksandar Jovicevic.