The EBRD is considering to provide a sovereign loan of up to EUR 80 million in favour of the Republic of Serbia for the construction and expansion of modern science and technology parks ("STPs") in Serbia.
The Bank's first committed tranche of approximately EUR 60 million will be used to finance the construction, fit-out and the purchase of new equipment for the expansion of existing and development of new STP facilities in the cities of Nis, Cacak, and Krusevac, to support critical infrastructure for the incubation and growth of innovative start-ups and businesses in Serbia. Uncomitted tranche of EUR 20 million will be aslo used for expansion of the STP concept in Serbia, subject to the Government priorities and implementation timeline.
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ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
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