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The Government of the Republic of Serbia

In the service of citizens

Potential World Bank investments in science, innovation in Serbia

Belgrade/Washington, 20 July 2023

Minister of Science, Technological Development and Innovation Jelena Begovic continued her visit to the United States of America with meetings in Washington, where she spoke with Executive Director and representative of Serbia at the World Bank Dominique Favre and Director of Strategy and Operations for the Europe and Central Asia region Carolina Sanchez.

The meeting looked at potential World Bank investments in science, innovation and the startup ecosystem.

Also, the Bio4 Campus project was presented at the meeting and discussions were held about the Project of Acceleration of Innovation and Encouraging Growth of Entrepreneurship, which is already being implemented in Serbia and which aims to bring about a change in the scientific ecosystem itself through the transformation of scientific institutes, to increase the innovative activity of scientific institutes, as well as the number of startup companies.

Further investments and plans, primarily for the Bio4 campus, were also discussed.

We agreed to start discussions on further support through the presence of various experts in Serbia, who will help us to further develop Bio4 Campus and to increase the number of startups that are formed from the institute. We mentioned that it would be good, since there is interest from some faculties to get involved in that project and to expand that project to the faculties. In this way, we would involve the entire scientific community and harmonise with contemporary events, Minister Begovic said.

Dominique Favre said that he is impressed by the innovation ambition shown by Serbia.

It was very important to see how the World Bank reacts to the proposals made by Minister Begovic when it comes to artificial intelligence and biotechnology, said Favre.

According to him, there are not many countries that come to the World Bank with the desire to exchange such experiences, and in the case of Serbia, it went very well and promisingly.

I am looking forward to seeing concrete cooperation and partnership between Serbia and the World Bank, said Favre.

Favre is one of the 25 executive directors of the World Bank board and represents 9 countries, including Serbia, which he is very proud of, as he points out, especially after the meeting with the World Bank.