Flood-caused damage to economy at EUR 1.6bn

The damage to the economy caused by the May floods is officially estimated at EUR 1.6bn according to the Recovery Needs Assessment Report of the government.

Izvor: Tanjug

Monday, 22.12.2014.

10:12

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Flood-caused damage to economy at EUR 1.6bn

The EBRD is restructuring several financial commitments with the city of Belgrade that are worth up to EUR 78 million.

“We are grateful for the support provided to us by the EBRD, which allows us to prioritize our interventions to repair the flood damage. This confirms the strength of our longstanding partnership with the Bank,” said Belgrade Mayor Sinisa Mali.

“It is of paramount importance for Serbia's economic recovery after the devastation of the floods. The damage caused to the city of Belgrade is very serious and this is why the EBRD is stepping in to help the administration with its flood-recovery plan,” EBRD Director for Serbia Matteo Patrone said.

Since the start of its activities in Serbia, the EBRD has invested more than EUR 3.8 billion in 182 projects across the country, the statement said.

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