Germany to back climate action in Serbia with EUR 309 mln package

Green Energy

Photo by Sepp photography/Shutterstock.com

Serbia and Germany have signed a declaration of intent on strategic cooperation in the field of climate action, worth EUR 309 million (USD 358 million), Balkangreenenergynews.com reports.

With technical and expert assistance from Germany, Serbia will continue to work on strategic documents related to decarbonization, CO2 emissions, and renewable energy sources, according to Serbian Minister for European Integration Jadranka Joksimović.

Based on the declaration, Serbia will develop an institutional model, she said, adding that the strategic documents will be developed through a working group that will include German experts.

Joksimović said that teams from all Serbian government ministries and members of the German delegation will go through all important projects to identify the areas where German financial assistance and grants would be the most beneficial.

The signing of the declaration was announced during German Chancellor Angela Merkel's recent visit to Belgrade. However, it was not specified at the signin g ceremony whether the EUR 309 million will come in the form of loans or grants.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.