EBRD and World Bank to increase investments in Serbia

On Friday, April 21, Minister of Finance Dusan Vujovic talked to representatives of the European Bank for Reconstruction and Development (EBRD) and the World Bank about the implementation of the current program of cooperation between the financial institutions and Serbia, including support to the restructuring of the financial sector and public enterprises and the development of the business environment.

EBRD Vice President Alan Pillow said that Serbia left an impression of a stable and secure country in the Balkans.

EBRD praised the stable growth and the dedication to reforms in Serbia and expressed readiness to increase investments in the country, both through advisory and financial support and through being actively involved in solving the issue of NPLs, based on the Strategy adopted by the Government of Serbia.

Ellen Goldstein, World Bank's country director for the Western Balkans, said that Serbia was achieving remarkably good results in the field of macro-monetary stabilization and fiscal consolidation, but also that the turnaround in the GDP growth trend, from a negative to a positive one, undoubtedly showed success in implementing the program.

Cyril Muller, World Bank's Vice President for Europe and Central Asia, pointed out that Serbia understood what its realistic possibilities of development were and that it helped her define its priorities in further fiscal adjustments and the strengthening of capacities and efficiency with precision.

– Even though there's still a lot of work to be done, the road Serbia has taken is the same one all successful economies are on – Muller said and added that the goal of creating a fertile ground for investors and securing constant progress was reachable.

He emphasized that there had to be perseverance in implementing the measures, as it would result in a mature market and an improved rating, and that the World Bank would continue cooperating with and providing support to the Government of Serbia in facing the challenges lying ahead.

Ministarstvo finansija Republike Srbije

EBRD Evropska banka za obnovu i razvoj Beograd

Svetska Banka-WB Beograd

Vlada Republike Srbije

Dusan Vujovic

European Bank for Reconstruction and Development

EBRD

Alan Pillow

Ellen Goldstein

Cyril Muller