EBRD to Finance Serbian Heating Networks Project

EBRD to Finance Serbian Heating Networks Project
Source : EBRD

The European Bank for Reconstruction and Development (EBRD) will provide a €9.2 million loan to finance the modernization of heating networks in Serbia, according to a statement released on Wednesday. The funds will be allocated to Public Utility Company (PUC) Novi Sad Heating Plant, one of the largest district heating companies in Serbia.

The loan aims to enhance energy efficiency and reduce CO2 emissions by upgrading the heating network's infrastructure. The project will include the installation of new pipelines, replacement of outdated equipment, and integration of advanced monitoring and control systems. This initiative is expected to result in significant energy savings and a decrease in greenhouse gas emissions, contributing to Serbia's environmental and climate goals.

Nandita Parshad, EBRD Managing Director for Sustainable Infrastructure, emphasized the importance of the project, stating, "Modernizing heating networks is crucial for improving energy efficiency and environmental sustainability. This investment will support Serbia's transition to a greener economy."

Miloš Vučević, Mayor of Novi Sad, expressed his gratitude for the EBRD's support, highlighting the project's benefits for the local community. "This investment will not only improve the reliability and efficiency of our heating services but also enhance the quality of life for our citizens by reducing pollution and energy costs," Vučević said.

The EBRD has been actively involved in supporting Serbia's energy sector, with investments totaling over €6 billion in the country since 2001. This latest loan aligns with the EBRD's commitment to promoting sustainable infrastructure and green investments across its regions of operation.

Source: EBRD