Agreements signed on EBRD loan for Serbian energy sector

Serbian Deputy PM and Finance Minister Sinisa Mali and EBRD regional director Matteo Colangeli signed agreements on a 300 mln dollar loan for the Serbian power generation sector on Wednesday.

The agreements were signed by Miroslav Tomasevic, director of the national power company EPS, and Grzegorz Zielinski, head of Energy Europe at EBRD.

It is the second-largest EBRD loan to Serbia, and the bank has invested a total of 7.9 bln euros in the country to date.

The signing of the agreements was also attended by Serbian Minister of Energy and Mining Dubravka Djedovic.

Mali said they were a signal of support for a government decarbonisation strategy aimed at gradually eliminating coal as an energy source by 2050.

He noted that this would help to develop a regulatory framework for developing the use of renewables and promoting their introduction as energy sources, as well as ensure the security and sustainability of energy supplies.

"We have defined investments in the energy sector as a priority for the government of Serbia because the energy crisis has additionally highlighted the challenges in the sector. What we need is investments, modernisation and an increase of capacities and preparedness for crisis situations in this sector, and we are dealing with that," Mali said after the signing of the agreements.

He said that, in addition, EPS would be reformed to develop stronger corporate management and better management capacities.

"Professionalising the company is a strategically significant step for the entire energy sector in Serbia, and we will carry it out - there will be no more delays of that important task," Mali said.