EBRD very active in Serbia - Loan for EPS, new owner for Komercijalna banka, cooperation for Belgrade Airport and Telekom Srbija

The European Bank for Reconstruction and Development is one step away from signing an agreement to approve EUR 200 million loan for the reorganization of the Electric Power Company of Serbia (EPS), EBRD Director for Serbia Daniel Berg said and added that the loan agreement would be signed early November at the latest.
According to him, it is an important loan for comprehensive reorganization of this power company.
- We've been partners with the EPS for a long time, and we extended some loans before for the improvement of their operations. Now we work with them on financial restructuring as well, and our loan will be used as support to the EPS balance sheet - said Berg.
Speaking about Komercijalna banka, he noted that the EBRD was its stakeholder for years, helping improve its corporate management, and Komercijalna banka is now in the process of privatization.
- We have always wanted to privatize Komercijalna banka, the Government has recently appointed an adviser for that purpose, and we hope Komercijalna bank will get a new owner by the end of the next year or early 2017 at the latest - he noted.
As he added, Komercijalna bank holds a 13-14% share in the banking market of Serbia, so the EBRD believes that it will continue to grow and contribute to the Serbian economy if it gets an appopriate owner. He reminded that the EBRD also held a stake in agricultural companies in Serbia, stressing that the Bank was considering other offers as well.
- In that regard, we expect the Telekom Srbija privatization process to be resumed. The adviser is picked, the process is underway, and we have already expressed interest in partaking in the process with a qualified buyer - said the the director of the EBRD for Serbia.
Also, as he added, the EBRD has offered the City of Belgrade and the Serbian government to work on the privatization or concessioning of the Airport.
- We're trying to get more involved in city operations through concessions or public private partnerships in the sector of water supply, waste management, transportation, remote heating... Aside from acquiring stakes, we are also ready to back private investments - Berg explained and added that small and medium-sized enterprises enjoyed a special status at the EBRD.
- We work with banks on credit lines, we have an effective team of advisers for small business, and we also invest up to EUR 5 million in small local companies - navodi Berg.
According to him, the EBRD's advice is available to all firms, and so are credit lines through local banks. When it comes to investment in small business, Berg explained that an investment like that can be approved to several companies a year, adding that all such businesses were welcome to apply for the funds.
Berg pointed out that the EBRD was highly dedicated to renewables and climate changes. As he noted, the EUR 200 million loan for the EPS will help raise the level of energy efficiency of the EPS. He stressed that the EBRD had financed the modernization and construction of small hydroelectric power stations in cooperation with the EPS, adding that it was committed to investments in sustainable energy solutions in Serbia and the rest of the region.
- We are closely monitoring preparatory works for the first private firms that would invest in wind farms. We are working on this with the Government and investors - said Berg.

EBRD Evropska banka za obnovu i razvoj Beograd

Elektroprivreda Srbije ad Beograd

Vlada Republike Srbije

Telekom Srbija a.d. Beograd

Grad Beograd

A.D. Aerodrom Nikola Tesla Beograd

NLB Komercijalna banka AD Beograd

European Bank for Reconstruction and Development

EBRD

EPS

Daniel Berg

Komercijalna banka

loans for small and medium sized enterprises

construction of small and medium sized enterprises

hydroelectric power stations in Serbia