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$220M loan granted to help improve power sector in Serbia

11/25/2015

 The European Bank for Reconstruction and Development (EBRD) has granted $220 million (€200 million) loan to Serbian state-owned power utility Elektroprivreda Srbije (EPS) to reform the country's power sector.

Among other project, the funding will be used to improve energy efficiency in the country and to develop cross-border energy distribution and trade in order to strengthen regional integration in the Western Balkans, reports Energy Business Review.

Earlier, EPS cut down its output by one third due to floods in 2014, which damaged its coal-production facilities.

The program is planned to be implemented in cooperation with the Serbian government, the World Bank and the International Monetary Fund.

Source: Energy Business Revew