The French Development Agency (AFD) has approved the first phase of a 50 million euro loan to support Serbia’s public sector for climate change reform, the statement said.
This program includes a loan of 50 million euros and a subsidy of 500,000 euros, and in addition, the Government of Serbia can count on the financial and technical support of AFD in the process of transition to reducing carbon dioxide emissions and achieving green growth.
According to the AFD statement, in this way it supports the road map defined by the Law on Climate Change, which was adopted on March 18 in the Serbian Parliament.
“By establishing a framework for the adoption of measures to reduce greenhouse gas emissions and strengthen the resilience of various sectors of the Serbian economy to climate change, this law provides a legal basis for the implementation of the country’s climate obligations in accordance with the Paris Agreement,” it said.
The director of the AFD’s regional office for the Western Balkans, Dominique Otberg, said the program was also in line with France’s commitments to support Serbia’s reforms to join the European Union.
AFD has been present in the Western Balkans since 2019, through its regional office based in Belgrade.
The AFD has been given a mandate to support countries in the region in meeting EU standards and implementing the Paris Agreement on Climate Change.
Starting in 2019, the AFD has approved more than 300 million euros in various Western Balkan countries, mostly in co-operation with international financial institutions.
The French Development Agency is also a member of the Western Balkans Investment Framework (WBIF) and is accredited by the European Commission for the management of funds and projects under the Instrument for Pre-Accession Assistance (IPA), Nova Ekonomija reports.
