Serbian Prime Minister Mirko Cvetkovic and European Investment Bank (EIB) President Philippe Maystadt opened the EIB regional office in Belgrade on Monday.

It was pointed out at the opening that EIB is one of the most active financial institutions in Serbia, which is confirmed by the data that, since 2001, EIB invested EUR 3 billion in Serbia, out of which EUR 690 million only in 2010.

EIB announced investments in the Fiat Automobili Srbija company in 2011.

Cvetkovic stated that Serbia is interested in continuing and strengthening the cooperation with EIB, "as cooperation with this financial institution helps Serbia's economy increase its competitiveness, and facilitates the country's EU accession."

Maystadt pointed out that the opening of EIB office in Belgrade represents the strengthening of cooperation with the Serbian administration and government and is a logical step further in Serbia's EU integration.

EIB is an EU financial institution, which was established in Rome in 1958 by the agreement on the founding of the European Community.

EIB finances investment projects which contribute to the EU development, and EIB shareholders are the EU member states.

EIB support helps make Serbia competitive in EU

The presence of the EIB will help Serbia improve its companies' competitiveness and facilitate its EU accession, Prime Minister Mirko Cvetkovic said at a reception at the Belgrade City Hall on Monday.

The reception was held to mark the opening of the EIB regional office in Belgrade. Besides the prime minister, the event was also attended by EIB President Philippe Maystadt, Deputy Prime Minister Bozidar Djelic, Finance Minister Diana Dragutinovic, Environment Minister Oliver Dulic, National Investment Plan Minister Verica Kalanovic and Head of the EU Delegation in Serbia Vincent Degert.

The EIB is one of Serbia's largest creditors, and it has invested around EUR 3 billion in the country since 2001, Cvetkovic stated. The investments concerned Serbia's strategic priorities, like the infrastructure, energy and small and medium companies, he added.

Serbia signed Monday more contracts regarding loans in those fields, the prime minister pointed out, adding that the country should receive more funds from the EIB in 2011.

Maystadt noted that the Belgrade office will allow the bank to react better to the financial needs of the Serbian private sector and strengthen its contacts with institutions and partners.

The EIB is the most active financial institution in the region, providing assistance to EU membership candidates and those who aspire to become that, said Maystadt. The bank has secured EUR 8.7 billion for those needs between 2007 and 2013, he remarked.