EIB approves EUR 200mn for science

The Serbian government and European Investment Bank (EIB) have signed an agreement for a EUR 200mn loan for the development of science in Serbia. The loan will enable investments of a total of EUR 420mn in the scientific and technological infrastructure of Serbia over the next five years. The rest of the funds will be provided from the Serbian budget, EU pre-accession funds, the European Bank for Reconstruction and Development (EBRD) and the Council of Europe Development Bank (CEB). EIB approves EUR 200mn for science State officials explained the loan by saying that it was a historic day for science and the courage of the Serbian government to invest in science and education in a time of crisis. Serbian President Boris Tadic said that despite the crisis, this was one of the most important investments for Serbia’s economic development. “An important element of investing into scientific development is stopping the brain drain, the stimulation of gifted young scientists so they will stay in Serbia. Serbia was facing a brain drain of the most gifted young people during the nineties and this project is not only a project for investing into the scientific infrastructure. This project includes providing material conditions for the most talented students and pupils to stay and work in Serbia,” he said. Science and Technological Development Minister Bozidar Djelic promised that the money will be well-invested. Djelic added that 1,000 non-commercial apartments would be built for scientists, both those who lived here and those who lived abroad but wanted to return to Serbia. The first investments are expected in May of this year. The first EUR 40mn will be invested in the purchase of scientific equipment. “It is the first loan which the EIB approved for investments in science and technology in Serbia, but also in the region of the Western Balkans, which will open the door for similar initiatives. This is only one in a series of projects that the EIB has financed in Serbia to combat the world economic crisis and support Serbia’s approach to the EU,” Dario Scannapieco of the EIB stressed. The agreement with the EIB was signed in a ceremonial hall of the Serbian Academy of Sciences by Finance Minister Diana Dragutinovic on behalf of the government. “You often have a chance to sign financial agreements, and no matter how much a part of me knows that it is justified and knows that in this time of crisis the state must take loans, believe me, there is a countless number of good loans, another part of me does not feel comfortable. In this case, both parts of me are satisfied,” the minister said. (Tanjug)

EIB approves EUR 200mn for science

State officials explained the loan by saying that it was a historic day for science and the courage of the Serbian government to invest in science and education in a time of crisis.

Serbian President Boris Tadić said that despite the crisis, this was one of the most important investments for Serbia’s economic development.

“An important element of investing into scientific development is stopping the brain drain, the stimulation of gifted young scientists so they will stay in Serbia. Serbia was facing a brain drain of the most gifted young people during the nineties and this project is not only a project for investing into the scientific infrastructure. This project includes providing material conditions for the most talented students and pupils to stay and work in Serbia,” he said.

Science and Technological Development Minister Božidar Đelić promised that the money will be well-invested.

Đelić added that 1,000 non-commercial apartments would be built for scientists, both those who lived here and those who lived abroad but wanted to return to Serbia.

The first investments are expected in May of this year. The first EUR 40mn will be invested in the purchase of scientific equipment.

“It is the first loan which the EIB approved for investments in science and technology in Serbia, but also in the region of the Western Balkans, which will open the door for similar initiatives. This is only one in a series of projects that the EIB has financed in Serbia to combat the world economic crisis and support Serbia’s approach to the EU,” Dario Scannapieco of the EIB stressed.

The agreement with the EIB was signed in a ceremonial hall of the Serbian Academy of Sciences by Finance Minister Diana Dragutinović on behalf of the government.

“You often have a chance to sign financial agreements, and no matter how much a part of me knows that it is justified and knows that in this time of crisis the state must take loans, believe me, there is a countless number of good loans, another part of me does not feel comfortable. In this case, both parts of me are satisfied,” the minister said.