Unused EBRD funds close to EUR 400mn

Serbian Deputy Prime Minister Božidar Đelić says Serbia is yet to use about EUR 400mn of funds approved by the EBRD.

Izvor: Beta

Tuesday, 17.07.2007.

12:30

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Unused EBRD funds close to EUR 400mn

The projects include a loan of EUR 60mn for buying locomotives and railway wagons, another worth EUR 20mn for constructing power stations in Belgrade and EUR 80mn for a bypass around Belgrade, Đelić told the media after a meeting with EBRD President Jean Lemierre.

Lemierre said, according to Đelić, that the EBRD was prepared to participate in the recapitalization of the Komercijalna Bank with EUR 100mn, but did not mention what the EBRD's share in the bank would be afterwards.

Several years ago, the EBRD participated in a recapitalization worth EUR 70mn in the same bank, which gave it a 25 percent stake in Komercijalna.

Lemierre also said that he was pleased with today's meetings with Serbian officials and that investments in Serbian banks would increase soon.

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