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Discussions on EBRD's participation in privatisation of Serbian state-owned banks

Serbian Finance and Economy Minister Bozidar Djelic has met with European Bank for Reconstruction and Development (EBRD) President Jean Lemierre in London to discuss EBRD's participation in the privatisation of Serbian state-owned banks.

Following the meeting, Djelic said that an EBRD delegation will visit Belgrade shortly to discuss ways to raise participation in Serbia's efforts to restructure and privatise state run-banks, particularly Jubanka, Kontinental Banka and Novosadska Banka.

The minister went on to say that EBRD does not aim to take majority shares in Serbian banks, but rather to inject fresh capital. It also plans to bolster its participation in Serbia's financial sector reform next year and help Serbia-Montenegro develop local infrastructure in small communities with 21m euros.

So far, the EBRD has invested 400m euros in Serbia-Montenegro's infrastructure, railway and energy projects.

(NewsBase 17.x.03)

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