Serbian gov't signs agreement on 80 mln euro EBRD loan

BELGRADE - Under an 80 mln euro loan agreement signed by the Serbian government with the EBRD on Friday, 70 mln euros will go to further construction of science and technology parks in Serbia, with the remaining 10 mln to go to the BIO4 campus in Belgrade.

The loan agreement was signed by Serbian Finance Minister Sinisa Mali and EBRD Western Balkans Director Matteo Colangeli, while a project agreement was signed by PM Ana Brnabic, Colangeli and the directors of science and technology parks in Nis, Cacak and Krusevac.

"We expect works to start by the end of the year," Brnabic said.

Construction of the BIO4 campus, already supported by 200 mln euros provided by the Council of Europe Development Bank, is also due to begin before the end of the year.

Brnabic noted that the investments were aimed at helping to keep Serbia's highly-educated young people in their communities and at enabling further development of the ICT sector, which she said was the fastest-growing sector in the country.

Colangeli said the ambitious projects would put Serbia on the world map when it comes to biotech and that, in a first for its operations in any country, the EBRD would also finance individual startups in Serbia.