In 2025, the European Bank for Reconstruction and Development (EBRD) delivered more than €800 million in new investments in Serbia for the third consecutive year, reinforcing its position as the country’s leading international financial institution. The Bank invested in a record 42 projects during the year, with 84% of total financing directed to the private sector, particularly small and medium-sized enterprises (SMEs). This sustained level of activity also marked a historic milestone, with cumulative EBRD investment in Serbia surpassing €10 billion.
A significant share of the Bank’s 2025 investment was channelled through local partner financial institutions, banks, and leasing companies, largely benefiting SMEs. These investments supported Serbia’s green and digital transitions, improved access to finance for youth- and women-led businesses, and strengthened trade. Beyond financing, the EBRD provided tailored advisory services to help companies enhance competitiveness and integrate into international value chains. Support for innovation remained strong, with the Star Venture Programme assisting 31 high-potential startups and training more than 200 early-stage entrepreneurs.
In the corporate sector, the EBRD extended growth-oriented and sustainability-linked financing to companies in manufacturing, pharmaceuticals, agribusiness, and technology, while also co-financing projects alongside foreign direct investors, particularly in real estate. Environmental infrastructure was another priority, including the launch of an air quality improvement programme aimed at replacing polluting boiler houses with sustainable heating solutions across several municipalities. The Bank also supported transport upgrades by financing new sleeping cars for international rail services operated by Serbia Voz.
Energy sector transformation featured prominently in 2025, with the EBRD providing extensive technical assistance for Serbia’s second renewable energy auction. The auction allocated 645 MW across ten wind and solar projects, contributing to more competitively priced clean energy and supporting the country’s decarbonisation efforts. Overall, the EBRD’s activities in Serbia continued to focus on strengthening private-sector competitiveness, advancing the green economy, and developing sustainable infrastructure to support long-term economic resilience.
