Serbian government and EBRD ink Memorandum of Understanding - EUR 200 million loan for EPS

Serbian Prime Minister Aleksandar Vucic and EBRD President Suma Chakrabarti signed Thursday night in the Serbian government a Memorandum of Understanding to launch a joint initiative for the development of investment climate, support to the private sector development, and promotion of good management in Serbia.

According to Vucic, the MoU will assist a lot in the management of private and public enterprises, and cooperation with the European Bank for Reconstruction and Development is one of the most important things for Serbia.

Expressing his satisfaction with the fact that EBRD representatives were staying in Belgrade, the prime minister said it was an important news for Serbia, noting that the EBRD was very satisfied with its cooperation with Serbia.

- We expect this MoU to ensure assistance and support in the management of private and state-owned enterprises and provide us with guidance on how to improve transparency and efficiency in the privatization process and how to complete that process successfully - said Vucic.

The prime minister stressed that the development of small and medium-sized businesses was one of the topics discussed with EBRD representatives, adding that an agreement would soon be reached and that it would be a "real boom for our people".

- We want an increasing number of people from Serbia to engage in business, for which we get support from the EBRD - said the prime minister.

The EBRD provides assistance in the handling of the most difficult cases such as RTB Bor and Galenika, as well as in the privatization process in the banking sector, improvement of public procurement processes, etc.