Deputy Prime Minister and Minister of Finance Sinsia Mali, European Bank for Reconstruction and Development (EBRD) Director for the Western Balkans Matteo Colangeli, Director of the Electric Power Industry of Serbia (EPS) public utility company Miroslav Tomasevic and EBRD Director for Energy Sector for Southeast Europe Grzegorz Zieliński signed today agreements on a €300 million loan intended for the reform of EPS.
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EBRD approves €300m loan for reform of EPS
Belgrade,
15 March 2023
The funds will be used by EPS, which during the winter season faced a significant decrease in liquidity due to the import of significant amounts of electricity.
Mali pointed out that this is the support of international financial institutions to the government's strategy for the decarbonisation of the electricity sector, with the aim of gradually phasing out coal by 2050.
We have defined investments in energy as a priority of the government because the energy crisis has further highlighted the challenges in this sector. Investments, modernisation, capacity building and readiness for crisis situations are needed in this sector, and we are dealing with that, said the Deputy Prime Minister.
Colangeli pointed out that EBRD, in coordination with the IMF and other international financial institutions and donors, is committed to contributing to the transformation of Serbia's energy sector.
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Author: Tanjug
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