EBRD adopts new strategy for Serbia

(Photo: Ivana Vuksa)

The strategy 2014-2018 focuses on a further strengthening of the private sector by enhancing its role and competitiveness, bolstering the financial sector and developing sustainable and efficient public utilities, the European creditor said in a release on its website.

With the aim of enhancing the role and competitiveness of the private sector, the EBRD will work to increase its engagement for and financing of the private sector, especially the funding of SMEs.

The Bank aims to foster privatisation processes through its activities. Structural improvements in the agribusiness sector remain a focus.

With the aim of bolstering the banking sector and deepening the financial intermediation, the EBRD will seek to further strengthen the financial sector by closely working with the authorities and other IFIs by providing long term financing and increase confidence by contributing to the recapitalisation of the Deposit Insurance Fund.

In order to develop sustainable and efficient public utilities, the EBRD will continue to work on the modernisation of the energy and infrastructure sectors by seeking to further mobilise private sector involvement and promote investment into energy efficiency and renewable energy, while supporting the authorities in accelerating the implementation of existing projects.

In all these activities the EBRD will seek to align its operation with the priorities of Government of Serbia and closely cooperate with the European Union and international financial institutions and multilateral and bilateral donors.

The Bank welcomes the progress in Serbia’s approximation to the EU and regards the EU process as a key external anchor for reforms, growth prospects and investors’ confidence.

Since the start of its operations in Serbia, the EBRD has invested more than €3.5 billion in some 176 projects. The Bank is investing in the financial sector, industry, commerce, agribusiness, energy and infrastructure.