Source: eKapija | Thursday, 05.01.2023.| 12:39
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EBRD Is New Associate Member of RES Serbia

(Photo: Unsplash/Zbynek Burival)
The European Bank for Reconstruction and Development joined the membership of RES Serbia and acquired the status of an associate member of the Association, as announced on the website of RES Serbia.

To date, the EBRD has invested 7.8 billion euros in Serbia and participated in 324 projects, and almost 16 billion euros in the entire Western Balkans.

The bank supports the development of the private sector, improves access to financing for small and medium-sized enterprises in cooperation with commercial banks, invests in renewable energy sources, finances projects in the field of transport and sustainable local infrastructure. Among the projects it supported in Serbia, EBRD played a significant role in the financing of the Čibuk 1 Wind Power Plant and the Kovačica Wind Power Plant.

The Association Renewable Energy Sources of Serbia was founded in 2021 with project and consulting support from the EBRD, which continued with intensive cooperation and support during 2021 and 2022.

The EBRD was founded on April 15, 1991, with headquarters in London, with the aim of helping to rebuild Central and Eastern Europe. Since its establishment, they have played a very important role in the development and renewal of this region with more than 170 billion euros invested in more than 6,400 projects. Decarbonization and the transition to clean energy sources is one of the EBRD’s priorities in the countries in which it invests.

In December, the International Finance Corporation (IFC), a member of the World Bank Group and the biggest global development institution oriented toward the private sector in rising markets, also became an associate member of RES Serbia.

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