>@EIB/To be defined

A top-level European Investment Bank delegation, led by EIB Vice-President Dario Scannapieco, is in Belgrade today for talks with the Prime Minister Aleksander Vučić and other representatives of Serbian authorities. The discussions focused on how to further strengthen the EIB support to the Country’s economic recovery and its path towards accession to the European Union.

Vice-President Scannapieco restated the EIB mission to provide finance and expertise needed to relaunch growth in European Union as well as in the Candidate and Potential candidate Countries.

Vice-President Scannapieco also met with Mrs Zorana Mihajlović, Deputy Prime Minister, Mr Dušan Vujović, Minister of Finance, Mr Željko Sertić, Minister of Economy, Mr Aleksandar Vulin, Minister of Labour, Veterans and Social Affairs, Mr Siniša Mali, Mayor of Belgrade and Mrs Jorgovanca Tabakovic, Governor of the National Bank of Serbia.

In addition, a EUR 150 million loan for small and medium-sized companies (SMEs) and other infrastructure projects in the fields of knowledge economy, energy, environment protection, industry, health, education and services was signed with the Ministry of Finance; a special focus will be given to projects supporting youth employment. This is the second part of a total EUR 500 million credit lines aimed at sustaining the Country’s recovery. The first EUR 150 million tranche of this credit line was signed in 2014. The loan will be channeled through local financial institutions, with the NBS (National Bank of Serbia, the domestic central bank) acting as the Agent to the loan facility.

"This visit is the occasion to reaffirm the commitment of the EIB in supporting the whole Serbian economy. With Prime Minister Vučić, who is at the beginning of his second mandate, and with all the Ministers of his cabinet, we have identified opportunities in order to intensify the collaboration in the years to come", noted the EIB Vice-President Scannapieco.

"The role of small and medium enterprises is particularly significant in transition countries that are facing high-level unemployment. For this reason 2016 has been declared the Year of Entrepreneurship in Serbia, in which more money will be allocated for those who are starting their business. Serbia will be a successful country once SMEs reach 50% of GDP", emphasized Vučić in thanking the European Investment Bank representatives for supporting the economic recovery of the country.

Since 2011 the bank of the European Union has financed over 20 investment projects in Serbia signing loans for a total of EUR 1.6bn, corresponding to nearly the double in terms of total investments mobilised and making a significant contribution to job creation and infrastructure modernisation.