Serbia gets money for infrastructure - Global Capital from the Emirates to invest between 10 and 15 million euros

The Serbian government yesterday signed a Memorandum of Cooperation with the Global Capital Advisors Management company from the United Arab Emirates that intends to finance industrial and infrastructure projects in Serbia.

The Memorandum was signed by Serbian Minister of Construction and Town Planning Velimir Ilic and Global Capital Advisors Management CEO Arun Ramswaroopji Panchariya in the presence of Serbian Prime Minister Ivica Dacic.

Ilic told the press that GCAM would invest in projects like Ladjevci Cargo Center, residential development, tourism, highways, and agribusiness.

As he explained, these investments will be implemented through joint funding via a fund in which this company from the Emirates will invest first 10 to 15 million euros.

According to Ilic, quality studies and project documentation will be prepared first, after which the implementation of projects will kick off.

Arun Panchariya said that GCAM that was also engaged in investment banking was going to invest much more money in projects in Serbia in the following period.