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    Signature(s)

    Amount
    € 500,000,000
    Countries
    Sector(s)
    Serbia : € 500,000,000
    Industry : € 500,000,000
    Signature date(s)
    16/05/2011 : € 50,000,000
    16/05/2011 : € 100,000,000
    16/05/2011 : € 150,000,000
    16/05/2011 : € 200,000,000

    Summary sheet

    Release date
    15 November 2010
    Status
    Reference
    Signed | 16/05/2011
    20090666
    Project name
    Promoter - financial intermediary
    FIAT Small Cars Serbia

    FIAT Group

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 500 million
    EUR 1 086 million
    Location
    Sector(s)
    Description
    Objectives

    The project concerns the promoter’s investments for the modernisation and expansion of production capacity of the existing Zastava automotive plant in Kragujevac, which is controlled by the promoter through a joint-venture (JV) with the Republic of Serbia. The project includes the investments in civil works, equipment and machinery as well as general infrastructure at the factory.

    The project will increase the factory production capacity. It will contribute to increasing FDI in Serbia, developing the local automotive industry, supporting the introduction of state-of-the-art equipment and production organisation, and finally contributing to the increase of exports and Serbia’s economic development.

    Environmental aspects
    Procurement

    The project is expected to follow the appropriate EU environmental and social principles, standards and practices, in accordance with local legislation. The Bank’s services will, however, clarify the possible need for an EIA and any other environmental issues during the appraisal.

    Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    News & Stories

    General enquiries and comments

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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