EBRD strategy: Strengthening of private sector

LONDON - A further strengthening of the private sector and the funding of SMEs are priorities in a new strategy for Serbia adopted on Tuesday by the European Bank for Reconstruction and Development (EBRD) Board of Directors.

The strategy 2014-2018 sets out the Bank's priorities and objectives focusing on a further strengthening of the private sector by enhancing its role and competitiveness.

Moreover, the Bank will also focus on bolstering the financial sector and developing sustainable and efficient public utilities, reads the EBRD statement delivered to Tanjug.

The Bank aims to foster privatization processes through its activities, while structural improvements in the agribusiness sector remain a focus.

The EBRD will seek to further strengthen the financial sector by closely working with the authorities and other IFIs by providing long term financing and increase confidence by contributing to the recapitalization of the Deposit Insurance Fund.

The EBRD welcomes the progress in Serbia's approximation to the EU, stressing that since the start of its operations in Serbia, it has invested more than EUR 3.5 billion in some 176 projects, the statement reads.