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The Government of the Republic of Serbia

In the service of citizens

European financial institutions to place new investments in Serbia

Belgrade, 10 October 2005

Head of the European Bank for Reconstruction and Development’s Western Balkans Office Claudio Viecoli said today that, by 2006, this institution will invest nearly €450 million in the Balkans, €250 million of which will go for the development of Serbian infrastructure.

Speaking at a seminar on infrastructure and logistics as part of a two-day conference themed “Days of Italy in Belgrade”, Viecoli said that, in the last five years, the European Bank for Reconstruction and Development (EBRD) has invested approximately €3 billion in the countries of the Western Balkans region and around €750 million in Serbia alone.

Viecoli invited Serbian companies to join together and as such take part in international tenders for building infrastructure in Serbia.

Director of the European Agency for Reconstruction Richard Zink recalled that this agency helped in the reconstruction of the “Sloboda” Bridge in Novi Sad, which was reopened for traffic this year after being destroyed in the NATO bombing of 1999.

Zink announced that the European Agency for Reconstruction (EAR) will help in building the Horgos border crossing towards Hungary and Croatia and the Presevo border crossing towards Macedonia, as well as in developing local infrastructure in municipalities in Serbia.

According to Zink, EAR’s aim is aiding Serbia in the process of rapidly becoming an EU member.

Representative of the European Investment Bank for Balkans Richard Rollings said that, by 2007, this bank plans to invest around €1 billion in infrastructure development in southeastern Europe, out of which around €800 million in Serbia-Montenegro alone.

Rollings said that the money will be invested in the reconstruction of roads, railroad system and river infrastructure, as well as in other economic objects.