EBRD marks milestone in Serbia: over €10 billion invested in the country to date

• Total EBRD investment in Serbia exceeds €10 billion, with half channelled to SMEs
• Annual new investment reaches around €800 million, mostly in private sector
• Serbia among the top recipient countries for EBRD investment

The European Bank for Reconstruction and Development (EBRD) reached this year a major milestone in Serbia, having invested more than €10 billion in the country since 2001 across nearly 400 projects.

The EBRD’s investment has benefited many parts of the country. In Belgrade, the Bank has financed the Gazela and Ada bridges, municipal services and the renovation of public buildings, as well as two landmark public-private partnerships – the airport and the Vinca waste-to-energy project.

Across the country, the Bank has invested substantially in connectivity, with increasing investment in the rail sector, and is financing major multi-city programmes to upgrade solid waste management, support green district heating networks, bring broadband access to rural communities, and strengthen the innovation ecosystem by investing in science and technology parks.

The Bank supported the resilience and liquidity of the energy sector in times of crises and has been at the forefront of the growth of renewables by financing the first wind projects, initially under feed in tariffs and more recently enabled by the country’s two first renewable energy auctions, which EBRD supported with substantial technical assistance.

The private sector remains at the heart of the EBRD’s mandate. Half of the €10 billion invested has been used to help small and medium-sized enterprises (SMEs) to access finance, being channelled through local banks in the form of credit lines and trade finance. Many credit lines aimed at strengthening SMEs’ competitiveness, accelerating the green and digital transitions, and fostering financial inclusion for women- and youth-led enterprises have been enabled by partnerships with donors.

At a macro level, the EBRD has contributed to the stability of the financial system, stepping up support in times of crisis and nurturing the development of capital markets. The Bank has played an important role in attracting the foreign direct investment that has underpinned Serbia’s economic growth, with impactful projects across all sectors. It has also supported local champions, including through equity, helping them to grow into regional and global players.

The focus on SMEs also extends to measures boosting access to skills, with capacity building provided to thousands of local companies over the years in areas such as innovation, digitalisation, resource efficiency, business standards, access to export markets, human resources management and succession planning.

Matteo Colangeli, the EBRD’s Regional Head of the Western Balkans, said: “We are very proud of this milestone and the many impactful projects over the years, which are testament to the strength of our partnerships in Serbia and the commitment of our growing team in Belgrade. We have been increasing our business volume over the last three years, reaching around €800 million annually, alongside material financing mobilised from donors and other investors. We plan to continue expanding our footprint in the country, helping to accelerate growth, raise competitiveness and foster a resilient and sustainable economy.”