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The European Investment Bank (EIB) is helping to strengthen economically disadvantaged areas of Serbia against future shocks with the Partnership for Local Development. The project signed in Belgrade provides EUR 30 million to revitalise public infrastructure in poor

municipalities in Serbia that have been affected by migration and natural disasters like flooding.

The Partnership will be financed by a EUR 22 million loan from the EIB and co-financed by the United Nations Development Programme (UNDP) and through contributions from municipalities themselves. This is the first project implemented by the Ministry of Public Administration and Local Self-Government in cooperation with the UNDP in Serbia. The investment is funded under the EIB’s Economic Resilience Initiative (ERI).

It will support the convergence towards EU standards in the quality of the core economic infrastructure. Investment is planned to go into a variety of public infrastructure, for example into local farmers markets, renovating and upgrading public buildings, including energy efficiency measures, and building and improving footpaths, public squares and sports facilities.

The contract was signed today in Belgrade by Sinisa Mali, the Serbian Minister of Finance, and Matteo Rivellini, the EIB Head of Division for operations in Slovenia, Croatia and Western Balkans, in the presence of the Minister of the Public Administration and Local Self-Government Branko Ruzic, the Head of Delegation of the European Union to the Republic of Serbia,Ambassador Sem Fabrizi and the UNDP’s Team Leader for New Partnerships and EmergingDonors, Ivan Zverzhanovski.

The Serbian Ministry of Public Administration and Local Self-Government and UNDP will work closely on the implementation of the project.