Serbia to Get 137 Million Euros From Germany for Energy, Economy
Serbia will receive 137 million euros ($198.5 million) from Germany to overhaul power plants, strengthen institutions and reduce unemployment.
About 105 million euros will go to energy projects, including 69 million euros to modernize the 56-year-old Vlasina hydroelectric plant in eastern Serbia, Deputy Prime Minister Bozidar Djelic said today in Belgrade. An additional 35 million euros will be used to store ash at the coal-fired Nikola Tesla plant west of Belgrade.
“Germany has been the biggest donor among individual countries,” Djelic said after he and German Ambassador Wolfram Maas signed the agreement. Germany has provided 1.09 billion euros of financial support to Serbia since 2000, 40 percent of which was grants, he said.
Seven million euros of the latest aid package will be spent to strengthen institutions and state administration, and 25 million euros will be allocated to projects designed to stimulate economic growth and create jobs, Djelic said.
To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net
To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net
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