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EBRD’s €846 Million Infusion into Serbia A Milestone in Economic Transformation

In a landmark financial move, the European Bank for Reconstruction and Development (EBRD) has invested a record €846 million in Serbia, signaling a major leap forward in the country's green energy, infrastructure, and economic sectors

2023 saw the European Bank for Reconstruction and Development (EBRD) making an unprecedented investment in Serbia, amounting to 846 million euros.

This record figure not only surpasses the previous high of 679 million euros in 2020 but also represents a nearly 200 million euros increase from 2022. 

Matteo Colangeli, EBRD Regional Director for the Western Balkans, expressed pride in these achievements. “Our record investment in Serbia, particularly significant given its economy size, underscores our commitment to impacting sectors like energy, infrastructure, and innovation,” he said. The EBRD also expanded its Belgrade hub, now boasting over 60 staff members.

Matteo Colangeli, EBRD Regional Director for the Western Balkans

The Bank financed 28 projects in Serbia in 2023, focusing on green transition, digital advancement, and economic inclusion. The year also marked the approval of the EBRD’s new country strategy until 2028, with goals including accelerating Serbia’s green energy transition, enhancing private-sector competitiveness, and financing sustainable infrastructure.

Energy sector investments were significant, with a 300 million euros loan to state utility EPS and the inaugural wind and solar energy auction, part of a plan to bring 1,300 MW of renewables to market. Infrastructure also received a boost, with investments in telecom towers and the national rail passenger operator, Srbija Voz.

The private sector wasn’t left behind, with the EBRD supporting large foreign investments and local SMEs through over 300 million euros in loans and trade finance. The Bank also stepped up its skills training initiatives, particularly for SMEs and startups.

Since joining the EBRD in 2001, Serbia has benefitted from over 8.8 billion euros in investments through 347 projects, predominantly in the private sector, marking a robust partnership for economic growth and development.

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