www.eco-finance.org: Information for providers, users and analysts of environmental finance

Eco-finance in Serbia

Domestic public finance

The Environment Protection Fund (EPF) has been established in 2005. The expected revenue in 2008 amounts to some 10-12 mln Euro. The EPF has become an important eco-finance institution in Serbia. View institutional profile. View EPF website.

The Directorate for Water at the Ministry of Agriculture, Forestry and Water Management (MAFWM) is providing substantial finance for water sector investments in Serbia. View institutional profile. View MAFWM website.

The National Investment Plan (NIP) for the period 2006–2011 is a government initiative to stimulate growth and economic development in Serbia by improving public infrastructure, the education and health system, housing and environmental protection. View institutional profile. View NIP website.

Do you know of additional mechanisms or institutions providing finance for environmental investments and thus should be mentioned here? Please let us know.

International, foreign sources

Below please find links to foreign and international institutions providing finance for environmental and/or water infrastructure projects. Bilateral mechanisms and institutions are listed first (in alphabetical order), followed by multilateral institutions.

Environment and water infrastructure are not current focus areas of Austrian Development Cooperation and Cooperation with Eastern Europe, ADC (implemented by the Austrian Development Agency, ADA) in Serbia, but constitute important components of prioritized activties. For details see the dedicated ADA website.

In South East European countries, the Canadian International Development Agency (CIDA) currently supports multilateral projects in the areas climate change and environment & security. Details on the CIDA website.

Czech Development Agency: view website.

The Danish Carbon Program offers carbon finance. For details visit the dedicated website. So far, Danish Carbon has no projects yet in Serbia.

The Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) public-private partnership program (PPP): view website.

The Dutch Agency for International Business and Cooperation (EVD) operates a "Program for Technical Cooperation with Emerging Markets (PSOM)" that supports Dutch companies investing in emerging markets (environmental criteria are applied in procedures): view website.

The Finnish Carbon Procurement Programme (Finnder) offers carbon finance. For details visit the Finnder website. So far, Finnder has no projects yet in Serbia.

Fonds Français pour l'Environnement Mondial: view website.

Japan Bank for International Cooperation (JBIC): "Economic Cooperation (ODA) loans" are available to the public sector or to financial intermediaries in developing and transition countries, to assist in the development of key social and economic infrastructures, including for example effective use of water and energies. View website.

KfW Entwicklungsbank provides loans and other finance for infrastructure / environmental projects: view website

Luxembourg's Lux Development: view website.

Slovak Aid: view website.

Spanish Agency for International Development Cooperation: view website.

Swedish International Development Cooperation Agency (SIDA): view website

United States Agency for International Development (USAID) in Serbia: view website.

European Bank for Reconstruction and Development (EBRD): EBRD energy efficiency and climate change finance; EBRD/EIB Multilateral Carbon Credit Fund (MCCF); EBRD municipal and environmental infrastructure finance; EBRD renewable energy finance; EBRD TAM/BAS programme (TAM/BAS stands for "Turn Around Management and Business Advisory Services"; program includes environmental components).

European Investment Bank (EIB): overview on loans offered by the EIB; examples of finance contracts signed; current project pipeline ("projects to be financed"). See also: EBRD/EIB Multilateral Carbon Credit Fund (MCCF).

European Union (EU) / European Commission (EC) support: see EC Enlargement - Serbia website.

The ENVSEC Initiative addresses environmental problems, which threaten security, societal stability and peace, human health and/or sustainable livelihoods, within and across national borders in conflict prone regions. Details on the ENVSEC website.

Global Environment Facility (GEF): view website. For country relevant info, see GEF Country Profile portal.

International Finance Corporation (IFC): view dedicated IFC country webpage. The following programs and facilities are available: IFC Environmental Business Finance Program (focused on financing renewable energy, energy efficiency, biodiversity and sustainable land management projects of SMEs); IFC Carbon Finance; IFC Cleaner Technologies Program; IFC Sustainable Energy program; IFC infrastructure financing (including water, wastewater, solid waste management); DevCo Facility.

Nordic Investment Bank (NIB) lending: view website.

The Renewable Energy and Energy Efficiency Partnership (REEEP) supports the development of innovative financing methods and policy to enable investment projects in the renewable energies and energy efficiency sectors (REEEP is not a funding mechanism, however): view website.

United Nationes Development Programme (UNDP) in Serbia: view website.

Information on the World Bank's environment and water sector portfolio can be found at the dedicated World Bank country website. In addition: view the World Bank Carbon Finance Unit website and the World Bank Public Private Infrastructure Advisory Facility (PPIAF) website.

Do you know of additional mechanisms or institutions providing finance for environmental investments and thus should be mentioned here? Please let us know.

Domestic commercial finance

A list of domestic and foreign banks operational in Serbia is available on the website of the National Bank of Serbia.

Last update of this page: 03 June, 2010

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Country background information

General info

• Official name: Republic of Serbia
• Largest cities: Belgrade (capital, 1.6 million inhabitants), Novi Sad (300'000), Niš (250'000), Kragujevac (175'000), Subotica (100'000)
• Neighboring countries: Bulgaria, Romania, Hungary, Croatia, Bosnia and Herzegovina, Albania, the former Yugoslav Republic of Macedonia, Montenegro
• Key links: National government; Ministry of Environmental Protection; Ministry of Agriculture, Forestry and Water Management; Ministry of Energy and Mining; Ministry of Economy and Regional Development; National Bank of Serbia; World Bank office; EBRD; EC Delegation; Wikipedia; Encyclopedia Britannica

Environment: background info

• State of the environment reports and governmental environmental policies: see Ministry of Environment website; see also: UNECE Envtl. Performance Review 2007; EEA state of environment reporting; EEA (2007): "Europe's Environment: the Fourth Assessment"; EEA/UNEP (2007): Sustainable Consumption and Production…; UNDP (2007): Environmental Policy in SEE; IEA Serbia website
• Reports related to eco-finance in Serbia: PPC/REC/OECD (2007): Mobilizing Finance for Environmental Priorities…; REC (2007): Environmental Financing Trends in SEE: 2001–2005; REC (2007): Municipal Environmental Investments in SEE 2001–2005; REC PEIP website
• For additional reports related to eco-finance, please visit our library & reference pages

Currency and exchange rates

Currency: 1 Serbian Dinar (RSD) = 100 paras (current and past exchange rates)

RSD/USD, end-year exchange rates:

RSD/EUR, end-year exchange rates:

  Source: oanda.com