Serbia gets EUR 157 m from Germany for developmental projects in 2014

Today, the representatives of the Government of Serbia and the Federal Republic of Germany have signed a Protocol on developmental cooperation which implies EUR 157 m for developmental projects in Serbia.

Developmental loans under favorable circumstances total EUR 138,5 m where Serbia will provide guarantees for EUR 70 m while grants total EUR 18,5 m.

The funds will be used in projects in water supplying, waste water treatment, energy and economy sustainable development.

Cristiana Begeman Hagedorn said today’s protocol is a continuation of a 15-year long-standing cooperation between the two countries. According to her, the funds will be used in projects in water supplying, waste water treatment and energy, primarily energy efficiency and renewable energy sources projects as well as projects in economy sustainable development since the objective is to generate new vacancies.

Hagedorn outlined that new program of support to economic development and new vacancies will start together with the Government of Serbia and incentives will be provided for vocational high schools.

In the period 2000 – 2013, a total of EUR 1,45 billion of developmental support for set aside for developmental cooperation between Serbia and Germany.