Serbia: EUR 6 million grant from the European Union for urban renewal in Belgrade
- Mar 9, 2010
The European Union (EU) provided a EUR 6 million grant to support urban renewal in Belgrade. This grant from the Municipal Window of the Infrastructure Project Facility (IPF) will be blended with a loan from the European Investment Bank (EIB) in the context of the Western Balkan Investment Framework (WBIF). The WBIF is an initiative by the European Commission, the EIB and International financial Institutions to accelerate projects in the Western Balkans.
To implement this grant, the European Investment Bank (EIB), the City of Belgrade and the Serbian Government signed a EUR 6 million grant agreement in favor of an existing project called Belgrade Urban Renewal on 4 March 2010 in Belgrade. The EIB was represented by Dario Scannapieco, Vice-President responsible for operations in Italy, Malta and the Western Balkans, Serbia by its Minister of Finance, Ms Diana Dragutinovic and the City of Belgrade by its Mayor, Mr Dragan Dilas.
The EUR 6 million grant from the EU will be dedicated to the improvement of street infrastructure. This investment is part of the Belgrade Urban Renewal project, which already benefits from an EIB loan aiming at revitalising Belgrade public transport and urban environment. The overall investments include the upgrading of existing tramway infrastructure and rolling stocks, the reconstruction of street infrastructures, and the improvement of traffic management systems in Belgrade.
The project is fully in line with the EIB’s lending priorities for the improvement of urban environment and the strengthening of infrastructure and activities in support of the Candidate and Potential Candidate Countries. The project supports and is consistent with multi-annual investment plans for urban development in Belgrade.
Note to editors:
The European Investment Bank, the long-term financing institution of the European Union, supports viable capital investment projects furthering the policy objectives of the Union. In the countries of the Western Balkans, the financing operations of the EIB contribute to facilitating the integration process with the European Union. Since 2001, the EIB has extended EUR 2.6 billion in favour of projects in Serbia.