|
New EBRD President travels to Serbia and Bosnia-Herzegovina in first visit to EBRD region
Western Balkans a key priority for the Bank
On 1 September EBRD President Thomas Mirow begins a three-day trip to Serbia and Bosnia-Herzegovina, his first visit to the EBRD region as head of the Bank. The visit underscores the increasing importance the EBRD attaches to strengthening policy dialogue with the countries in the Western Balkan region and supporting their further development.
The EBRD welcomes the progress the region has made in implementing key reforms and the encouraging increase in cross-border cooperation and investment that have bolstered recent growth across the Western Balkans.
In Serbia, Bosnia-Herzegovina and the region, the Bank will continue to play a crucial role by investing alone and together with other foreign investors. Key targets for investment to support the development of the regional economies include transport and municipal infrastructure, energy, as well as the agribusiness and private sectors. The EBRD will continue to stimulate regional economic integration, to help make markets more competitive, to improve quality and to reduce the cost of services, which is key for integration into the broader European and global markets.
During the visit to Belgrade and Sarajevo, Mr Mirow will meet senior government officials, business partners and international envoys. In Belgrade, the EBRD President will also sign a €10 million loan to RZB Leasing to finance the expansion and growth of small and medium-sized enterprises in all regions of Serbia. In Sarajevo, President Mirow will sign a €3 million loan to the microcredit organization MI Bospo and a €6 million loan to a local agribusiness enterprise, Bimal.
The EBRD is the largest institutional investor in the region, having invested more than €4.9 billion in sectors including infrastructure, energy, the financial sector and the private corporate sector, especially small and medium size enterprises.
The Bank signed its first project in Serbia in 2001 and has to date invested almost €1.3 billion in 105 projects in the country. In Bosnia-Herzegovina total investments are €762 million in 69 projects.
|
