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- EBRD investment in Serbia exceeds €800 million for third year in a row
- 84 per cent of total 2025 investment goes to private sector
- Cumulative EBRD investment in Serbia to date passes €10 billion mark
The European Bank for Reconstruction and Development (EBRD) delivered over €800 million of new investment in Serbia in 2025, surpassing that level for the third year in a row and cementing its status as the leading international financial institution in the country.
The Bank invested in a record 42 projects in Serbia last year, with 84 per cent of that investment being directed to the private sector – with a particular focus on boosting the resilience and competitiveness of small and medium-sized enterprises (SMEs). The EBRD also reached a historic milestone in Serbia in 2025, with its total cumulative investment passing the €10 billion mark.
Matteo Colangeli, the EBRD’s Regional Director for the Western Balkans, said: “In 2025, we delivered another year of exceptional results in Serbia. We maintained very high levels of investment and directed an increasing share of the total to the private sector, particularly to SMEs. With over €800 million being invested in 2025, the total capital deployed in Serbia to date has passed the €10 billion mark, which is testimony to the strength and depth of our partnerships in the country. With a steadily growing hub in Belgrade, we are committed to continuing to scale up our activities to strengthen the resilience and competitiveness of the Serbian economy.”
In 2025, nearly half of the Bank’s total investment in Serbia was channelled through our network of partner financial institutions, local banks and leasing companies, largely for the ultimate benefit of SMEs. This took the form of a broad range of targeted financial products, aimed at boosting investment in the green and digital transitions, improving access to finance for youth- and women-led enterprises, and boosting trade. In addition to finance, we also helped SMEs with access to know-how through tailor-made advisory services in order to increase competitiveness and support integration into international value chains. Serbia’s innovation ecosystem remained a priority, with our Star Venture Programme supporting 31 high‑potential startups and training over 200 early‑stage entrepreneurs.
In the corporate sector, the EBRD extended growth and sustainability-linked finance to local companies in the manufacturing, pharmaceutical, agribusiness and technology sectors. It also provided cofinancing alongside foreign direct investors, particularly for real estate projects.
Environmental infrastructure continued to be an important priority, with the launch of an air quality improvement programme targeting the replacement of polluting boiler houses and the introduction of alternative sustainable heating in several municipalities across the country. Transport was also supported, with financing being provided to Serbia Voz for the purchase of sleeping cars for international rail routes.
The Bank also helped to strengthen and green Serbia’s energy sector, providing extensive technical assistance in support of the country’s second renewables auction. That auction allocated 645 MW across 10 wind and solar projects, helping to deliver more competitively priced clean energy to the Serbian economy.
The EBRD is the leading institutional investor in Serbia, having invested more than €10.6 billion through 404 projects to date. The Bank’s focus in Serbia is on private-sector competitiveness, the green economy and sustainable infrastructure.