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EBRD investments in Serbia to reach 500 million euros

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Christian Fernsby |
Belgrade street
Europe   It will probably move Serbia towards fifth position in the EBRD

European Bank for Reconstruction and Development (EBRD) President Suma Chakrabarti expects the financial institution's investments in Serbia to reach about 500 mln euros this year, which would be an "all-time record for EBRD in Serbia."

"It will probably move Serbia towards fifth position in the EBRD countries of operation we have nearly 40 countries of operation," Chakrabarti told Tanjug in an interview.

"That's fantastic, and it's fantastic for Serbia, it's fantastic for the Western Balkans region because Serbia is the largest economy and, for me and our shareholders, the Western Balkans is one of the priority regions," he said.

EBRD intends to increase its portfolio in Serbia to 1 bln euros. Chakrabarti said most EBRD investments in Serbia around 70 pct went to the private sector.

"That's very good: that means we're really trying to get the private sector to become the motor of the Serbian economy," he noted.

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