Serbia to borrow USD 205 million from Saudi Arabia for financing of three projects

The minister of finance of Serbia, Sinisa Mali, and the CEO of the Saudi Fund for Development, Sultan Abdulrahman Al-Marshad, today signed in Belgrade the agreements on the financing of three projects in Serbia which are worth USD 205 million in total.

The agreements pertain to the construction of the BIO4 Campus, the Program of Boosting Irrigation Infrastructure and the Project of the Transmission System Operator EMS (phase 1).

– That is the first concrete step after last year’s signing of the Memorandum of Understanding. We are grateful for the support and we believe that this is a new chapter in the relations of the two countries which will contribute to the strengthening and intensification of the economic cooperation, for which there is huge potential. The projects that this money is meant for will contribute to the creation of new jobs, the strengthening of our economy, a better positioning of the Republic of Serbia in the world science community. On the other hand, this way, we are establishing a long-term partnership of the Republic of Serbia and the Kingdom of Saudi Arabia and contributing to the implementation and development of important projects in our country – Mali wrote on Instagram.

Ministarstvo finansija Republike Srbije

Ministry of Finance

Saudi Fund for Development

Sinisa Mali

Sultan Abdulrahman Al Marshad

BIO4 Campus

Program of Boosting Irrigation Infrastructure

Project of the Transmission System Operator EMS