KfW bank

Serbia secures €135 million KfW loan for energy and environmental reforms

The Serbian government approved a loan agreement with German development bank KfW, totaling €135 million, aimed at financing reforms in the energy and environmental sectors. The agreement, signed on July 18, 2025, represents the second phase of a joint development initiative with the World Bank and the French Development Agency. The loan will not cover taxes, public levies, or customs duties, and will be disbursed in a single tranche once all preconditions are met. Serbia will repay the loan in…