EBRD supports long-term objectives of EPS - Acquisition of stake not an option

The European Bank for Reconstruction and Development (EBRD) has no intention to acquire a stake in the Electric Power Company of Serbia (EPS) through a EUR 200 million loan, said EBRD Director for Serbia Daniel Berg.

He told the Internet magazine Serbia Energy that the main focus of the EBRD in that project was to help the financial restructuring of the EPS and to support the recovery from last year's devastating floods.

According to Berg, the EBRD wants to help the EPS with the EUR 200 million loan to achieve its long-term development objectives such as commercialization, higher standards of corporate management, and better energy efficiency. As it was pointed out, the history of successful cooperation between the EBRD and the EPS includes five projects.

Berg said that the EBRD was open to considering new projects with the EPS, provided that they are in line with the Energy Strategy of that bank and priorities in the energy sector of Serbia.

- By financing the projects in Serbia, the EBRD will provide support to further reforms of the energy sector, which should contribute to the liberalization of energy market as an important precondition to joining the EU, as well as intensify integration activities in the Western Balkans by encouraging cross-border distribution and trade in electricity - Berg announced.

EBRD Evropska banka za obnovu i razvoj Beograd

Elektroprivreda Srbije ad Beograd

European Bank for Reconstruction and Development

EBRD

EPS

Serbia Energy

fiscal restructuring of EPS

Daniel Berg

energy sources in Serbia

reform of energy sector

cross border distribution of electricity

trade in electricity