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The Government of the Republic of Serbia

In the service of citizens

EBRD to give €358m for region’s recovery from floods

Belgrade/Brussels, 16 July 2014

At the donors' conference held in Brussels today it was announced that the European Bank for Reconstruction and Development (EBRD) will allocate Serbia financial assistance of up to EUR 300 million for the elimination of consequences of the catastrophic floods which hit our country in May.

Author: Tanjug

In an effort to help Serbia to recover from the floods, the EBRD has expressed willingness to increase and redirect the funds allocated to public and private sector in Serbia, and confirmed that as of now up to €300 million will be available for reconstruction in the public sector.

In addition, funds amounting to €100 million intended for small and medium-sized enterprises (SMEs) in Serbia will be available from the Municipal Infrastructure Development Fund (MIDF). These funds may also be used for the reconstruction of municipal infrastructure in areas affected by the floods.

The EBRD has already signed with Unicredit Bank in Serbia two agreements on lending to the private sector in the amount of €50 million, and both loans may be used to finance projects in the flooded areas.

Bosnia-Herzegovina received today funding from the EBRD in the amount of up to €58 million, which, as stated, will be made available to the public sector, while the additional amount of up to €100 million from the MIDF will be available to small and medium-sized enterprises in Bosnia-Herzegovina.