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Serbia: EU and its bank EIB Global provide €96 million to modernise electricity distribution network and improve waterborne transport
During his first visit to Serbia, the European Investment Bank (EIB) Vice-President, responsible for the Western Balkans, Robert de Groot attended the signature ceremony for an €80 million loan with Elektrodistribucija Srbije d.o.o (EDS), Serbia’s electricity distribution company, to replace obsolete electromechanical metering devices with around 400 000 smart meters. As part of a wider electricity grid modernisation programme, the installation of new smart meters will help the distribution system operator reduce electricity losses, improve collection rates and facilitate the integration of renewables in the near future. The signature ceremony was attended by the Minister of Mining and Energy Dubravka Đedović Handanović, Business Systems Director of EDS Vjekoslav Bobar, and State Secretary for the Ministry of Finance Ana Tripović.
Serbia: EIB Global and Banca Intesa Beograd to boost Serbian companies’ access to finance and green investments with a €100 million credit line
EIB Global, the arm of the European Investment Bank (EIB) devoted to activities outside the European Union, and Banca Intesa Beograd, a member of the Intesa Sanpaolo international banking group, have signed a €100 million credit line aiming to enhance access to finance for small and medium enterprises (SMEs) and mid-caps in Serbia and support private sector-led green projects. Made available on favourable terms, including longer maturities, the funds will enable companies to address their liquidity and investment needs amid consecutive challenges, while increasing their capacity to generate jobs, scale up and decarbonise their businesses. Overall, this credit line will boost the resilience of the Serbian economy, increase its competitiveness and support employment.
Serbia: New BioSense Institute building opens for scientists and startups
A new BioSense Institute building was officially opened today in Novi Sad. Benefiting from a prime location at the entrance of the city centre, it will offer almost 7 000 m2 of state-of-the-art facilities for scientific research and business ventures. As part of the University of Novi Sad, the premises provide high-end laboratories and workplaces for life sciences studies for around 250 scientists. Startups will have a dedicated area for the development of innovative solutions in the fields of agriculture and biotechnology. These new facilities, with their highly sophisticated equipment, will reinforce the institute’s scientific potential and transformation into a European centre of excellence that is capable of conducting the most advanced research projects applicable on a global scale.