EBRD invests EUR 4 billion in Serbia – Chakrabarti praises economic stability and openness to investments

The president of the European Bank for Reconstruction and Development, Suma Chakrabarti, stated on Wednesday, August 31, that the factory had invested more than EUR 4 billion in over 200 projects in Serbia, and that Belgrade was the biggest local client.

– When I look at the city, I see the effects of our work – Chakrabarti said and reminded that the EBRD had recently approved a EUR 200 million loan for the overhaul of EPS, but also that the bank had supported the biggest mergers and acquisitions, for example, the purchase of Moji Brendovi.

He also notes that they had helped businesswomen with micro loans.

Chakrabarti praised the economic stability in Serbia and its well organized work force.

– We are increasing the competitiveness of the commercial sector, improving corporate management through technical support. We have also worked on advising the Serbian parliament in passing laws – the president of the EBRD said.

There's still a lot that Serbia needs to do in order to increase its competitiveness, he said and added that it was needed, for example, to reduce the bureaucracy, continue to fight corruption and so on.

– Together, we are taking steps that will prepare the country for European integration. We are working on making Serbia more capable of facing global challenges – he said.

The president of the EBRD praised Serbia because, as he said, the Government had started looking for investments from all corners of the world.

– I support what you're doing in Serbia. You have activated to the extent that you are looking for investments from all corners of the world. My bankers say that we can't just have the Western market, but that we need to go to Asia, Serbia, the Balkans. It's very good that you're trying to draw investments from various countries – Chakrabarti said.

EU's strategic orientation is towards Western Balkans integration

Talking about the Western Balkans region, Chakrabarti said that the bank was cooperating with the governments in order to increase the amount of foreign direct investments and suggested to them to double their efforts in order to improve the investment climate.

– I believe that what the EBRD has done in the Western Balkans is a good advertisement for what it means to work together – Chakrabarti said.

The EU's strategic orientation is towards the continuation of the Western Balkans integration, assessed the president of the EBRD and added that the bank did everything in its power to help Serbia accelerate its European integration.

He pointed out that, in the region, integration went hand in hand with the focus on regional cooperation.

– Regional cooperation is a prerequisite for candidate countries to get closer to this goal – he said.

According to him, now is not a good moment to make a pause in the process, as the world faces the pressure of international challenges.

– Regarding many of these challenges, we believe that deeper economic integration is a key part of the solution, not the problem – Chakrabarti said.

He added that the EBRD had invested EUR 2.8 billion in regional infrastructural projects worth a total of EUR 7.5 billion and emphasized that the bank was ready to support the construction of the so-called Peace Highway from Nis to Durres, through Pristina. As well, significant funds have been invested in projects of creating business connections, among which he mentioned the SEE platform for connecting stock exchanges in the region and the portal for connecting business registers agencies.

Elektroprivreda Srbije ad Beograd

Vlada Republike Srbije

Moji brendovi d.o.o. Beograd

EBRD Evropska banka za obnovu i razvoj Beograd

Suma Chakrabarti

European Bank for Reconstruction and Development

EBRD

EPS

Elektroprivreda Srbije

Moji Brendovi

Government of Serbia

investments in Serbia

Nis Pristina highway