Serbia: EBRD to grant 200MEUR loan to power utility EPS, News Serbia Energy
Serbian power utility EPS company restructuring is being implemented under the close watch of key stakeholders EBRD and World Bank. EBRD is a strong loan provider to EPS modernization cycle in power generation sector.
EBRD (European Bank for Reconstruction and Development), which is very engaged in the process of reorganization of the Electric Power Company of Serbia (EPS), is going to grant a EUR 200 million loan for that purpose this autumn, said EBRD Belgrade Office Manager Matteo Patrone.
– The aim is to definitely sign an agreement on the loan for EPS reorganization in 2015. We hope that this can be done in the third quarter – Patrone stated, adding that it was still early to discuss the details of that loan agreement.
According to him, the Serbian government will carry out the reorganization of EPS in close cooperation with the World Bank which is currently assessing what part of that company requires reorganization under the standby arrangement that was signed early this year with the IMF.