EBRD Hits €10 Billion Investment Milestone In Serbia Since 2001, Funding Nearly 400 Projects Across Infrastructure, Energy, SMEs, And Innovation

The European Bank for Reconstruction and Development (EBRD) has reached a significant milestone in Serbia, having invested more than €10 billion in the country since 2001 across nearly 400 projects. This long-term commitment has supported development in multiple sectors and contributed to the country’s economic growth and modernization.

In Belgrade, EBRD financing has supported major infrastructure projects, including the Gazela and Ada bridges, as well as the renovation of public buildings and improvements to municipal services. The Bank has also backed two landmark public-private partnerships: the development of the airport and the Vinca waste-to-energy project, both of which have had a substantial impact on the city’s infrastructure and services.

Beyond the capital, the Bank has focused on improving connectivity and public services across Serbia. Investments in the rail sector have increased, while multi-city programs are underway to upgrade solid waste management, expand green district heating networks, and provide broadband access to rural communities. In addition, EBRD has strengthened Serbia’s innovation ecosystem by supporting the development of science and technology parks. The Bank has also played a crucial role in the energy sector, helping maintain resilience and liquidity during periods of crisis.

It has been actively involved in the growth of renewable energy, financing the country’s first wind projects initially through feed-in tariffs, and more recently supporting renewable energy auctions with substantial technical assistance. Supporting the private sector has been central to EBRD’s work. About half of the €10 billion invested has been directed toward small and medium-sized enterprises (SMEs), helping them access finance through local banks in the form of credit lines and trade finance. Many of these initiatives are aimed at improving SME competitiveness, accelerating green and digital transitions, and promoting financial inclusion, particularly for women- and youth-led enterprises, often in partnership with donors.

At a macroeconomic level, EBRD has contributed to the stability of Serbia’s financial system, stepping up support during crises and aiding the development of capital markets. The Bank has played a key role in attracting foreign direct investment, which has underpinned economic growth, and has supported local companies through equity investments, enabling them to expand regionally and globally. EBRD’s support for SMEs also includes capacity-building initiatives, which over the years have reached thousands of local businesses. These programs cover areas such as innovation, digitalization, resource efficiency, business standards, access to export markets, human resources management, and succession planning.

Matteo Colangeli, EBRD’s Regional Head for the Western Balkans, stated that the milestone reflects the strength of the Bank’s partnerships in Serbia and the dedication of its growing team in Belgrade. Over the past three years, EBRD’s annual business volume in the country has reached around €800 million, supported by financing mobilized from donors and other investors. The Bank plans to continue expanding its presence in Serbia, supporting growth, improving competitiveness, and fostering a resilient and sustainable economy.