Serbia’s government said it has signed two public policy loan deals worth €234.6mn with the World Bank and France's development agency AFD to support its green recovery.
The two loans are for climate change public policy and for the project to modernise the rail sector in Serbia.
"We shall succeed to improve Serbia's resilience to future climate change risks and urgently address the challenges of air pollution," Prime Minister Ana Brnabic said in the statement.
AFD will contribute €50mn to a loan to support the improvement of efficiency and transparency of the public sector and initiative for green growth. It is co-financed by the International Bank of Reconstruction and Development (IBRD), a unit of the World Bank, which is providing €82.6mn.
The second loan, to support the development of the railway network, is worth €102mn, with the World Bank and AFD financing the project in partnership, with €51mn each.
Related Articles
S&P upgrades ratings of Freedom subsidiaries to ‘BB-’
S&P Global Ratings has upgraded the credit ratings of several subsidiaries of Nasdaq-listed Freedom Holding, raising ratings on Freedom Finance, Freedom Finance Europe, Freedom Finance Global and ... more
Kazakhstan’s Freedom fintech sets out to emulate and exceed Revolut in Europe
Freedom Holding Corp (Nasdaq: FRHC) is positioning itself to expand deeper into Europe’s financial services market with plans to launch a digital bank in France, backed by a €500mn ($572mn) ... more
Fintech Freedom Holding aims to make France key entry point into EU with €500mn investment
A French banking licence would open the way to a new phase in the international expansion of Nasdaq-listed fintech group Freedom Holding Corp. That’s the expectation of Freedom, a company ... more