The European Bank for Reconstruction and Development (EBRD) delivered over €800 million in new investment in Serbia last year, topping that level for the third year running and cementing its status as the leading international financial institution in the country, the bank reported in a statement. The Bank invested in a record 42 projects in Serbia, with 84 percent directed to the private sector—particularly to boost the resilience and competitiveness of small and medium-sized enterprises. The EBRD also hit a historic milestone in Serbia in 2025, with its total cumulative investment passing the €10 billion mark.
Matteo Colangeli, the EBRD’s Regional Director for the Western Balkans, said: “In 2025, we delivered another year of exceptional results in Serbia. We maintained very high levels of investment and directed an increasing share to the private sector, particularly to SMEs. With over €800 million invested in 2025, the total capital deployed in Serbia has passed the €10 billion mark, which is testimony to the strength and depth of our partnerships in the country.”
Nearly half of the Bank’s total investment in Serbia was channeled through partner financial institutions, local banks, and leasing companies, largely for the benefit of SMEs. This took the form of targeted financial products aimed at boosting investment in green and digital transitions, improving access to finance for youth- and women-led enterprises, and boosting trade. Beyond finance, the EBRD also helped SMEs with access to know-how through tailor-made advisory services to increase competitiveness and support integration into international value chains. Serbia’s innovation ecosystem remained a priority, with the Star Venture Programme supporting 31 high-potential startups and training over 200 early-stage entrepreneurs.
In the corporate sector, the EBRD extended growth and sustainability-linked finance to local companies in manufacturing, pharmaceuticals, agribusiness, and technology. It also provided cofinancing alongside foreign direct investors, particularly for real estate projects. Environmental infrastructure continued to be an important priority, with the launch of an air quality improvement programme targeting the replacement of polluting boiler houses and the introduction of alternative sustainable heating in several municipalities.
The Bank also helped strengthen and green Serbia’s energy sector, providing extensive technical assistance in support of the country’s second renewables auction. That auction allocated 645 MW across 10 wind and solar projects, helping deliver more competitively priced clean energy to the Serbian economy. The EBRD is the leading institutional investor in Serbia, having invested more than €10.6 billion through 404 projects to date.
