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The Government of the Republic of Serbia

In the service of citizens

Serbian government, EIB continue cooperation

Belgrade, 2 April 2004

Serbian Deputy Prime Minister Miroljub Labus met with European Investment Bank (EIB) Vice President Gerlando Genuardi in Belgrade today, describing the bank delegation visit as a confirmation of continuing cooperation between the government and international financial institutions.

Miroljub Labus

The two officials discussed a new credit line for the Serbian SME sector, which according to Labus should be doubled against 2003 when EIB disbursed €20 million in SME lending.

The new credit line should amount to €45 million, said Labus. With local banks due to secure another €45 million, total funding available for the development of SMEs and the introduction of new products will reach €90 million.

EIB will continue providing loans for Serbia's infrastructure projects, including a €120 million loan for the completion of the Belgrade-Novi Sad motorway, the Minister said.

The two sides also discussed the bank's participation in Serbia's railway and air traffic control projects, as well as a €50 million credit line for the reconstruction of local schools and hospitals.

EIB is also ready to help Serbian cities improve water supply systems, Labus added.

According to Genuardi, the two sides also confirmed the priorities in infrastructure and SME development, as well as the education and health sectors.