Belgrade — December 2025 — The European Bank for Reconstruction and Development (EBRD) has surpassed €10 billion in cumulative investment in Serbia, marking a significant milestone in a partnership that has supported the country’s economic transition for more than two decades.
Since beginning operations in Serbia in 2001, the EBRD has financed nearly 400 projects, with annual commitments now averaging around €800 million. Roughly half of all investment has gone to small and medium‑sized enterprises, while the majority of new financing in recent years has been directed toward the private sector, reflecting Serbia’s growing role as one of the Bank’s most active markets.
The EBRD’s footprint is visible across key sectors. In Belgrade, the Bank has backed major infrastructure upgrades — including the Gazela and Ada bridges, municipal transport improvements, and landmark public‑private partnerships such as the Belgrade Airport concession and the Vinča waste‑to‑energy project. Nationwide, investments have supported rail modernisation, solid‑waste management, district‑heating upgrades, broadband expansion, and the development of science and technology parks.
Energy security has been a central focus, with the Bank providing liquidity during periods of market volatility and financing Serbia’s shift toward renewable energy and green transition projects.
EBRD officials say the €10‑billion milestone underscores the depth of the institution’s long‑term commitment to Serbia’s economic development, with future investment expected to prioritise sustainability, innovation and private‑sector competitiveness.
Serbian National Assembly building in Belgrade” by Filip Maljković, CC BY-SA 2.0
