EBRD Adopts New Strategy of Cooperation with Serbia – Priorities Green Energy, SMEs and Sustainable Infrastructure

The European Bank for Reconstruction and Development’s (EBRD) Board of Directors has approved a new country strategy for Serbia, guiding its investment and policy initiatives for the next five years.

The EBRD’s three key priorities for Serbia will be: (i) accelerating the green energy transition; (ii) enhancing private-sector competitiveness, productivity and access to finance; and (iii) financing sustainable infrastructure and strengthening regional connectivity, the EBRD announced.

Under the first priority, the EBRD will focus on scaling up renewable energy capacity, particularly through continuing to support the authorities with wind and solar auctions, but also by introducing renewable energy sources into district heating systems. Energy efficiency will also be a primary objective, especially in the context of accelerating building renovations.

Under the second priority, the EBRD will boost small and medium-sized enterprises’ (SMEs) competitiveness through access to finance and skills, especially related to the green and digital transitions, as well as through targeted programs with partner commercial banks to support women- and youth-led enterprises. Innovation will also be a focus and will be pursued by developing the start-up ecosystem and investing in enabling digital infrastructure and in science and technology parks.

Under the third priority, the EBRD will support Serbia in accelerating investments in environmental infrastructure – waste and wastewater management, air quality and irrigation, in particular – maximizing opportunities to crowd in private investment and develop the circular economy. The Bank will also continue encouraging the switch to rail transport, especially by financing the main European and regional corridors. Governance will be a key cross-cutting theme and will include helping to raise standards at state-owned enterprises.

Matteo Colangeli, EBRD Regional Director for the Western Balkans, said that the EBRD was pleased with their growing presence and business in Serbia, which, in 2023, was set to deliver record investments of more than EUR 800 million.

– Our new country strategy charts a clear way forward to scale up our partnership with Serbia, contributing to its economic success and convergence towards the European Union – Colangeli said.

The press release says that Serbia is the largest economy in the Western Balkans and has strong growth potential thanks to its well-diversified economy and its position as a regional hub at the crossroads of international corridors.

It is reminded that, to date, the EBRD has invested more than EUR 8.7 billion in Serbia through nearly 350 projects, the majority of which have supported the private sector.

EBRD Evropska banka za obnovu i razvoj Beograd

European Bank for Reconstruction and Development

EBRD

Matteo Colangeli

strategy of cooperation with Serbia

green transition

sustainable infrastructure

support to SMEs