NIKOLIC: Serbia needs development bank

Serbia’s President Tomislav Nikolic stated Saturday (1 September 2012) in Becej that banks in Serbia should stop with the speculations and instead invest in the Serbian economy, B92 reports.

He and European Bank for Reconstruction and Development (EBRD) President Suma Chakrabarti visited the Sojaprotein factory and said that it was a good example how a bank could affect the fate of the firm it cooperated with.

- This could be an example for many business banks whose leadership should give up on speculations on the securities and money market and financing on dubious or nonexistent projects and they should look up to the EBRD which first came with loans, then helped other banks give loans and than it became a shareholder - the president told reporters.

He said that Serbia would in the future period have to invest a lot in the agriculture and energy sector.

- People need to be convinced that they can make a nice and good living with agriculture - Nikolic said.

Nikolic stressed that Serbian needed a development bank that would provide funds to citizens.