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EBRD to Invest $403 Million in Serbia in 2013, PM Dacic Says

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Jan. 29 (Bloomberg) -- The European Bank for Reconstruction and Development plans to invest 300 million euros ($402.8 million) this year in Serbia to help it improve public companies and to sell some state assets, Prime Minister Ivica Dacic said.

The London-based lender will invest the funds “in 20 projects in Serbia this year and plans to increase investment in the private sector development,” Dacic said in an e-mailed statement today, after meeting with Matteo Patrone, the EBRD’s resident representative.

Serbia seeks a new loan deal with the International Monetary Fund to shore up confidence that government policies will bolster macroeconomic stability after the fiscal deficit hit a record 7.2 percent of gross domestic product in June. The government has said it won’t need IMF cash, only a standby loan program.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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