CoE Development Bank approves 200 million Euro loan for Serbia

NEWS 13.05.2020 09:04
Source: REUTERS/Vincent Kessler

The Council of Europe Development Bank (CEB) said that it had approved a 200 million Euro loan to Serbia to finance health care system expenses aimed at combatting the coronavirus pandemic.

“The Serbian government has been swift to implement a range of measures, including the purchase of emergency equipment and supplies, to help contain the spread of COVID-19. The CEB loan, in the form of a Public Finance Facility (PFF), will cover gaps in the extraordinary budget lines created for COVID-19 mitigation measures,” a CEB press release said.

It added that the loan was approved to help cover health care service expenses and ensure its stability, including the protection of medical staff. “It will allow Serbia to finance the cost of medical and pharmaceutical supplies, medical equipment, patient monitors and coronavirus tests,” the press release said adding that the focus is on improving supplies of protective equipment in medical facilities.

The CEB recalled that it supports the Serbian health care sector through various projects, adding that the loan brings current CEB investments in Serbia to almost 1 billion Euro.

According to CEB Governor Rolf Wenzel “health is a priority area for CEB financing and the Bank has had excellent cooperation with Serbia in this sector”. “The loan provided to Serbia is part of our efforts to forge ahead united in our fight against this pandemic,” he said.