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EBRD investments in Serbia at EUR 3.3 billion

09. March 2012. | 09:53

Source: Tanjug

The European Bank for Reconstruction and Development (EBRD) has been the largest investor in Serbia since 2001, with a total of EUR 3.3 billion invested, according to what was said at the Serbian Chamber of Commerce (PKS) on Wednesday.

The European Bank for Reconstruction and Development (EBRD) has been the largest investor in Serbia since 2001, with a total of EUR 3.3 billion invested, according to what was said at the Serbian Chamber of Commerce (PKS) on Wednesday.

The EBRD invested EUR 526 million in Serbia in 2011 alone, through 28 projects, and its activities this year will focus on the development of transport, energy and municipal infrastructure.

"The bank will raise its support to the government by taking an active part in drafting laws regarding fiscal decentralization and public finance regulation, which will create a good investment environment that will attract private sector investments," expert of the EBRD public procurement department Veljko Sikirica said at a seminar on EBRD rules for public procurement.

Conveying a message by head of the EBRD office in Belgrade Hildegard Gacek, Sikirica stated that growth would have to be based, not so much on cheap capital influx from foreign loans, but on increased use of domestic funds, which would create a better business environment and lead to a general reform of institutions.

The EBRD is the leading bank in the private sector, because more than 65 percent of its loans are meant for that sector's development, he pointed out.

PKS Vice President Mihailo Vesovic said the PKS and EBRD had been organizing similar seminars for the past three years, bringing benefits for both the economy and the EBRD.

The seminar will last three days. The final day will include one-on-one consultations between economists and EBRD representatives. Two more seminars were announced for this year. They will focus on the possibilities of working on EBRD projects and regional cooperation.

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