Germany writes off EUR 18.5 million of Serbia's debts

Serbian Finance Minister Sinisa Mali talked with German Ambassador to Serbia Thomas Schieb this Monday, January 21, 2019, about, as said, the successful cooperation of the two states, the increasing investments of German companies in Serbia, but also about Serbia's debt of EUR 18.5 million that Germany wrote off in December thanks to good performances and economic results.

This is the debt within the Paris Club, the Ministry of Finance announced.

Minister Mali pointed out that various reforms aiming at a sustainable economic development had been carried out in the preceding years, through various programs in cooperation with the Government of Serbia, local institutions, the German development organization GIZ, the German development bank KfW and numerous partners.

– In addition to the reforms pertaining to a sustainable economic development, there are also considerable investments in the improvement of environmental protection and the enhancement of the democratic civil society and public administration – Mali said.

He added that the cooperation with Germany was also important for the excellent business connections.

– There are four hundred companies from Germany operating in Serbia, with around 50,000 employees. It is of key importance for investors to do business in a stable country, and Serbia has carried out numerous reforms, the economic effects of which are now visible. Also, the foreign trade with Germany is constantly on the rise – the minister pointed out.

Ambassador Schieb said that the cooperation of Germany and Serbia had produced visible effects and pointed out that there was a special focus on inciting sustainable growth and employment.

Le Club de Paris

GIZ Beograd

GIZ Bonn

KfW kancelarija Beograd

KfW Bankengruppe Frankfurt am Main

Sinisa Mali

Thomas Schieb

GIZ

KfW

economic cooperation of Serbia and Germany

Serbian debt write off by Germany