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EBRD Invests 850 Million Euros in Serbia, Making it a Top-Five Market in 2023

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Regional Director of the European Bank for Reconstruction and Development, Mateo Kolanđeli, states that Serbia is among the top five markets for the EBRD. He mentioned that the EBRD invested a record-breaking 850 million euros in our country last year.

At the presentation of the transition report, which the EBRD traditionally publishes every year, outlining its strategy for Serbia, Mateo Kolanđeli emphasized that this financial institution works in Serbia more than anywhere else.

Serbia is a very important country for us, as evidenced by last year’s projects, including the investment of 300 million euros for the liquidity of Elektroprivreda Srbije, which contributes to reforms in decarbonization. Another significant project was the funding of scientific and technological parks in Čačak and Kruševac, as well as the BIO 4 campus. The third investment is in Telekom’s infrastructure,” stated Kolanđeli during the presentation of the report, attended by the governor of the National Bank of Serbia, Jorgovanka Tabaković.

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Speaking about plans for the upcoming period, he emphasized that the strategy until 2028 has been adopted and that energy is at the top of the priority list.

According to his words, in the field of energy, there will be investments with the private sector in transition networks as well as energy efficiency, starting with buildings and their energy renovation, which, as he said, is not an easy task.

He mentioned that there will also be investments in reducing energy consumption in small and medium-sized enterprises.

“The next area is infrastructure, and there we will transition from road to railway transport and connect Serbia with the countries of the Western Balkans and the European Union,” stated Kolanđeli.

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As the next priority in the infrastructure sector, he highlighted ecological infrastructure and added that efforts will be made with small and medium-sized enterprises and startups to facilitate their smooth transition through the green transition.

Leading regional economist at the EBRD, Peter Tabak, has assessed that the news for Serbia is good, as its economy has recovered well after the pandemic, and the forecasts favor faster development.

“This year, faster growth is expected in the eurozone compared to last year, and Serbia’s main trading partner, Germany, expects growth in 2024, which will contribute to the growth of the Serbian economy,” emphasized Tabak.

He emphasized that last year’s growth was mainly supported by agriculture and construction. Regarding this year, a growth of 3.5 percent is expected, supported by strong public investments, especially those related to EXPO 2027.

According to him, it is anticipated that exports will recover, and the slowdown in inflation will lead to an increase in consumer spending.

As another piece of good news for Serbia, he mentioned the fact that Serbian exports are diversifying, reflected in the growth of the IT sector’s exports, which, as he stated, compensates for weaker demand for Serbian goods.

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