EBRD: These are our plans for Serbia

Source: Tanjug Wednesday, 13.07.2016. 11:32

(Daniel Berg) The EBRD director for Serbia, Daniel Berg, called the recent visit by the Board of Directors of that bank to Serbia very successful.

Berg said that they had learned a lot about the country, which is important for its advancement because, as he said, the Board approves all the bank's projects, so their support to the EBRD strategy for Serbia is necessary.

– They learned a lot about Serbia during the intensive three-day visit. This visit is very important to our further work in Serbia, since the Board and the top management of the EBRD decide on the activities of the office by deliberating and approving the suggestions made by the office – Berg said and reminded that 10 of a total of 23 directors, which represent 35 of a total of 65 EBRD shareholders in the Board, visited Serbia.

The Board organizes the visits every three or four years, and this was the first time after four years that the Board visited Serbia in this composition.

Their mission was to get to know the country better, and after the visit by the Board of Directors of the EBRD, there are no formal conclusion, such as were made after the visit of the IMF Mission, nor is there a joint statement.

The Board has the task of informing the bank's management and other members of the Board about their conclusions, while the local office hopes that the improved understanding following the visit will enable a more efficient implementation of that bank's strategy in Serbia.

– We wanted to help them see which of the EBRD's projects is most useful for Serbia, to see as much as possible and to support the strategy of the bank in Serbia and for it to prosper. I'd have liked them to have stayed longer in Serbia and to have seen even more projects in this beautiful country. But I think the visit was a success – Berg said.

Berg pointed out that, considering that the directors had wanted to see as much as possible, they had managed to meet with Prime Minister Aleksandar Vucic, the ministers at the Government of Serbia, the ambassadors, representatives of other financial institutions working in Serbia, non-governmental organizations...

According to him, the EBRD invested EUR 480 million in projects in Serbia in 2015, which is very high and makes up about a five percent of the total activities of the EBRD.

Since it started operating in Serbia, the EBRD has invested EUR 4.2 million, of which 2.3 million makes up the active portfolio, half in the private, the other half in the public sector.

– Some of the key projects we will be working on include additional financing for the banking sector, which helps small and medium enterprises, involvement in large infrastructural projects and privatizations such as the Vinca landfill, the Airport and Telekom with the parallel financing with medium and large investors – Berg said and added that all those topics had been discussed during the visit.

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