EBRD mulls taking part in Serbia’s banking sector privatisation

Serbian Minister of Finance and Economy Bozidar Djelic said that a delegation of the European Bank for Reconstruction and Development (EBRD) will visit Belgrade shortly to discuss ways to raise participation in the restructuring and privatisation of Serbian banks, agencies reported.

Djelic met with EBRD President Jean Lemierre in London to discuss EBRD’s participation in the privatisation of Serbian state-owned banks. Jubanka, Kontinental Banka and Novosadska Banka are not to be discussed, since since their privatisation has already began.

EBRD does not aim to take majority shares in Serbian banks, but rather to bring in fresh capital, said Djelic, adding that the bank plans to bolster its participation in Serbia’s financial sector reform next year.

According to Djelic, EBRD will help Serbia-Montenegro develop local infrastructure in small communities with €21 million next year.

So far, EBRD has invested €400 million in Serbia-Montenegrin infrastructure, railway and energy projects.