Serbia has recently obtained a certificate officially confirming it is a non-regional member of the Asian Infrastructure Investment Bank (AIIB), which will give it access to cheap loans and the bank’s special funds for priority projects.

Serbia has recently obtained a certificate officially confirming it is a non-regional member of the Asian Infrastructure Investment Bank (AIIB), which will give it access to cheap loans and the bank’s special funds for priority projects, in line with a government commitment to launch a new investment cycle, the Ministry of Finance & the National Bank of Serbia (NBS) told Tanjug Monday.

The Bank supports lending for infrastructure projects in transport, energy, water supply, telecommunications & recovery from damage caused by floods, landslides and climate change, and provides financial backing for establishment of investment, infrastructure and “green” funds, enabling Serbia to apply for loans and for access to the AIIB’s Special Funds for infrastructure and other priority projects, the Ministry of Finance said.

“The Membership in the AIIB is another step towards creating positive effects for our economy. The institution gives financial and technical support to member states to encourage the development of infrastructure and other sectors,” Tanjug was told at the NBS.

The Membership is a kind of reaffirmation of the traditionally good & close relations between Serbia and China, and Serbia is also a part of China’s Belt & Road initiative, which will further increase the significance of Serbia’s ties with Asia, an NBS source said.