EBRD loan to Serbia for major waters project

“The project is being supported by an EBRD sovereign loan of up to €66 million to the Republic of Serbia and will involve the construction and operation of a multipurpose dam and reservoir near the village of Pambukovica in the flood‑prone Kolubara River basin ... which has been hit repeatedly by extreme weather, including the devastating floods of 2014, highlighting the urgent need for resilient, long‑term water management solutions,” it added.

According to the EBRD, the the project will initially focus on flood retention and flow regulation, support future irrigation and ensure ecological flow management, sediment control and improved water quality.

It quoted Jelena Ceperkovic, EBRD Deputy Director for Serbia, as saying that: “The Pambukovica dam project is a strategic investment for Serbia, strengthening protection against floods while laying the foundations for more resilient agriculture and sustainable water management. Through this project, the EBRD is helping communities to better adapt to climate change and secure long‑term economic and environmental benefits”.

Srbijavode CEO Goran Puzovic is quoted as saying that “the Pambukovica dam is a major water management project that will significantly reduce flood risks in the Kolubara River basin, a region repeatedly affected by extreme weather, including the floods of 2014. The project will also support the future irrigation of more than 2,200 hectares, improve water quality and strengthen the area’s resilience to climate change”.