EBRD to invest EUR 300mn in Serbia

BELGRADE The European Bank for Reconstruction and Development (EBRD) will invest EUR 300mn in Serbia this year, EBRD representative in Serbia Matteo Patrone has said. He explained that the money would be invested in around 20 projects. EBRD to invest EUR 300mn in Serbia Patrone noted that he was satisfied with the way EBRD funds were used in Serbia. The EBRD resident representative stressed that the biggest part of the money would be invested in transport and local infrastructure, agriculture and construction and that the public and privately-owned sectors would get a half of the funds each. “When we talk about the number of financed projects, more that three quarters will be in the private sector because loans are usually lower there,” Patrone said. He said that the EBRD expected the economic growth in Serbia to be around 2.1 percent this year, which was higher than in other countries of the region. He added that the growth should be based on the increase in export, car industry and agriculture. Patrone pointed out that the Serbian economy was very diverse and that there were many sectors that could initiate the country’s economic growth. “One should keep in mind that Serbia has a strategic position at the heart of southeastern Serbia, it is close to the EU, it has a large number of free trade agreements with other countries of the region and with Russia that is a significant export market, so from the international companies’ viewpoint, if you want to start a headquarters of your business for a specific sector, Serbia is a good location for it,” he concluded. Tanjug

EBRD to invest EUR 300mn in Serbia

Patrone noted that he was satisfied with the way EBRD funds were used in Serbia.

The EBRD resident representative stressed that the biggest part of the money would be invested in transport and local infrastructure, agriculture and construction and that the public and privately-owned sectors would get a half of the funds each.

“When we talk about the number of financed projects, more that three quarters will be in the private sector because loans are usually lower there,” Patrone said.

He said that the EBRD expected the economic growth in Serbia to be around 2.1 percent this year, which was higher than in other countries of the region. He added that the growth should be based on the increase in export, car industry and agriculture.

Patrone pointed out that the Serbian economy was very diverse and that there were many sectors that could initiate the country’s economic growth.

“One should keep in mind that Serbia has a strategic position at the heart of southeastern Serbia, it is close to the EU, it has a large number of free trade agreements with other countries of the region and with Russia that is a significant export market, so from the international companies’ viewpoint, if you want to start a headquarters of your business for a specific sector, Serbia is a good location for it,” he concluded.