EIB to provide €22m for local development in Serbia

The Serbian government and the European Investment Bank have signed a contract for a €22m loan. The funds will be used for infrastructure projects in less-developed regions of the country. The contract signed Serbian Minister of Finance Sinisa Mali and Mateo Rivelini EIB. The value of the projects the loan is targeting, projects aimed to promote local development, is €30m, with donors and state funds expected to provide the remainder. It's the first time the EIB has covered 75 percent of the volume of the investments it's supporting, as 50 percent is its standard approach.