The European Investment Bank (EIB) in Serbia continues to invest in key sectors that drive economic growth, innovation and sustainable development. Special attention is focused on education and skills development, the green transition through renewable energy sources, and the modernisation of infrastructure that connects Serbia with the region and EU markets.
These investments not only contribute to the country’s long-term competitiveness, but also deliver immediate benefits in the form of new jobs and support for the private sector.
Damien Sorrell, Head of the Regional Hub of the European Investment Bank for the Western Balkans, spoke in more detail about these topics for EUpravo Zato after taking part in one of the panels at the Belgrade Economic Forum.
When asked which types of projects the European Investment Bank currently considers the most attractive for financing in Serbia, Sorell stated that the EIB is active across a wide range of sectors, from transport and education to healthcare, but that at this moment three areas stand out in particular.
The first is innovation and skills, exemplified by the Connected Schools Project, which has connected 3,800 schools, or 700,000 pupils and 100,000 teachers, which is of crucial importance for the future of education in the country. Furthermore, the EIB has invested 200 million euros in research and development, which will open innovation centres and science parks across the country, benefiting start-ups and private investment. Sorell stressed that the Bank will continue to invest in this sector.
“The second sector is the green transition. I think this is very important for both Serbia and the EU, especially when it comes to energy corridors. We need to do more. We are working on wind and solar parks in the region. In Serbia, we are working on the rehabilitation of hydropower plants and smart grids. And finally, the third sector is sustainable connectivity. This is key to unlocking the regional market and access to the EU. So, in Serbia, in this segment, we are working on Belgrade Corridor 10. In addition, we are connecting the corridor with Dimitrovgrad. We are also working on energy corridors and transmission projects. This will also unlock greater economic potential for the country,” he told our portal.
How do EIB investments affect local economies and employment?
Investments bring significant capital into the country. Over the past decade, the Bank has invested 3.5 billion euros in Serbia, which is a substantial amount for key transformational projects. Sorel added that the EIB supports the private sector through commercial banks, but also directly through corporate investments, thereby contributing to job creation.
“We provide favourable loans to small and medium-sized enterprises, with longer repayment periods and lower interest rates than they would have on the market. This enables them to decarbonise, modernise their production equipment and gain access to the EU market, especially with the entry of CBAM on 1 January. We also provide transformational investments in infrastructure. In short, EIB investments are a catalyst for economic growth, job creation and structural transformation. In this way, they bring short-term gains in employment, but also long-term competitiveness for the country,” he added in conversation with our journalists.
The Belgrade Economic Forum and its significance
The jubilee 25th edition of the Belgrade Economic Forum is being held in Belgrade and brings together senior representatives of international institutions, the diplomatic corps, the academic community, the business sector and civil society.
Over more than two and a half decades, the Belgrade Economic Forum has established itself as one of the most important venues for open dialogue on key economic, political and social issues in Serbia and the region of South-East Europe.
It was founded in 2001 as the Economic Summit of Serbia and, over the years that followed, developed into an important annual institution that makes a significant contribution to discussions on public policy, regional integration and sustainable economic development across Serbia and South-East Europe, representing a key platform where prominent figures come together to address the most important challenges and opportunities in the region.
(EUpravo zato)
