The European Bank for Reconstruction and Development (EBRD) invested a record 846 million euros in Serbia last year, up by nearly 200 million euros from 2022 and well above the previous all-time high of 679 million euros in 2020, said EBRD.

“We are very proud of our results in Serbia last year, delivering record investment and support for the economy. Serbia is among the EBRD’s five largest markets for the first time, all the more remarkable given the size of its economy,” said EBRD Regional Director for the Western Balkans Matteo Colangeli.

He said the Bank financed impactful projects in the energy sector, in infrastructure, innovation, attracting foreign direct investment and supporting small and medium-sized enterprises.

“This was in parallel to expanding our presence on the ground, with our Belgrade regional hub growing to more than 60 people,” added Colangeli.

Last year the EBRD financed 28 projects in Serbia, with a strong focus on the green transition, digital advancement and economic inclusion, said the Bank.

It added that energy took center stage, with a 300 million euro loan to state-owned utility EPS, alongside a substantial package of technical assistance to support reforms at the company and in the sector more broadly.

Serbia joined the EBRD in 2001. To date, the Bank has invested more than 8.8 billion euros in the country through 347 projects, largely in the private sector.