The European Investment Bank (EIB) has signed a series of loans this week to boost the infrastructure and energy sectors in Serbia, to the tune of almost €140 million.
The bank said it agreed to finance contracts for €50 million with EFG Bank and €40 million with Unicredit Leasing Srbija. The banks will use the loans to finance infrastructure projects procured by local authorities, in addition to providing assistance to small- and medium-sized enterprises based in the country.
The EIB also agreed to lend €24.5 million to EMS, an independent operator of high voltage grids and transmission systems in Serbia. The loan will go towards financing the construction or rehabilitation of six power substation projects, which have a combined cost of around €50 million.
Additionally the bank has signed an agreement with the Republic of Serbia to lend €25 million to benefit the nation’s municipal infrastructure. The loan follows an initial €50 million lent in December last year, and is intended for transport and social infrastructure projects throughout Serbia.
Since 2001, the EIB has financed more than €1.7 billion of projects in Serbia, the bank said.