Serbian Finance Minister, EBRD official discuss capital market

Serbian Finance Minister, EBRD official discuss capital market

Serbian Finance Minister, EBRD official discuss capital market Izvor: Tanjug/ Ministarstvo finansija

Serbian Finance Minister Sinisa Mali discussed the development of a capital market with European Bank for Reconstruction and Development (EBRD) Managing Director Financial Institutions Francis Malige on Tuesday.

A ministry press release said that Mali told Malige that a working group had been formed to develop the capital market adding that it included representatives of all relevant institutions. He said that the new laws on investment funds and alternative investment funds would help develop the market.

Mali recalled that Serbia recently issued one billion Euros worth of Eurobonds on the London Exchange at a record low interest rate of 1.6 percent with more than 300 investors expressing interest and added that the first package of bankrupt bank debts had been sold early this year with a second package to follow in a few weeks.

The minister is quoted as saying that he would be investing intensive efforts to raise Serbia‘s credit rating to a higher level to attract more foreign investments.

The press release quoted Malige as saying that Serbia has achieved good economic results and stressing the importance of the development of a capital market in Serbia as the leading economy of the Western Balkans.

Malige is also quoted as saying that he is pleased with the process of finding a strategic partner for the Komercijalna Bank with Mali recalling that the deadline for potential strategic partners to submit non-binding offers is Septembar 6 with the offers being opened on Septembar 10.

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