June 20, 2024
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Serbia, KfW Bank helps green agenda in Serbia with 1.5 billion euros in joint projects

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Serbian Minister of Mining and Energy Zorana Mihajlovic met with the new Regional Director of the German Development Bank (KfW) for Southeast Europe and Turkey Klaus Müller and Director of KfW in Serbia Rudiger Hartmann and discussed the continuation of successful cooperation in the energy sector.

Minister Mihajlovic pointed out that Serbia has changed the laws in the energy and mining sector, and is preparing a new strategy for energy development until 2030 with a vision until 2050, but also working on developing an integrated plan for climate and energy. Serbia wants to be a regional leader when it comes to energy efficiency, energy transition and the green agenda, where KfW Bank is an important partner. The total value of realized, ongoing projects, as well as planned joint projects is almost 1.5 billion euros.

She added that a lot of work is being done on projects to increase energy efficiency, especially in households, that the EE Fund has been established, and that special emphasis is being placed on supporting citizens in becoming energy producers through the installation of solar panels.

Muller expressed satisfaction for his first visit to Serbia and he stated that for KfW, cooperation with Serbia, especially in the energy sector, is very important. Investing in energy efficiency and renewable energy sources is extremely important and KfW is interested in supporting Serbia in that. The Bank plans 75 million euros only for public investments. The Energy Efficiency Fund is also very interesting, and the Bank intends to support Serbia in terms of energy transition and capacity building for energy production from renewable sources, such as the Kostolac wind farm (developed by state-owned EPS).


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