NIB launches cooperation with Serbia and Montenegro

NIB has signed a framework agreement on financial cooperation with the government of Serbia and Montenegro.

The agreement implies that Serbia and Montenegro recognises NIB as an international financier. This status enables NIB to participate in the financing of projects in this country.

According to NIB’s President Johnny Åkerholm, NIB can from now on grant loans for projects of Nordic and Baltic interest in Serbia and Montenegro. The projects could be concerning infrastructure, the sectors of energy and telecommunications, as well as environmental improvements.

“The new agreement will further promote the economic ties between the Nordic and Baltic countries on one hand side and Serbia and Montenegro on the other,” says Mr Åkerholm. He points out that many companies from NIB’s member countries have already gained a foothold in Serbia and Montenegro. The presence of NIB will help more companies to realise their intentions to enter this market.

The agreement has been signed by Serbia and Montenegro’s Minister for International Economic Relations Predrag Ivanovic and NIB’s President Johnny Åkerholm in Belgrad on 23 May.