Funds from an EIB loan could help make Serbia an attractive place for scientists and stem the brain drain.
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Serbian Deputy Prime Minister Bozidar Djelic said the funds will go towards renovating old facilities and building new ones. [Getty Images]
The science sector in Serbia could soon get a jump start, thanks to a 200m-euro loan from the European Investment Bank (EIB). The funds, intended to help overcome the effects of the global economic downturn, were approved in March and became available this month.
It is the biggest investment in the sector in 30 years. Funds will go towards purchasing new equipment, renovating Serbia's dilapidated science facilities, and building needed infrastructure. The goal is to stem the country's ongoing brain drain and encourage the return of scientists who have already left.
"This is the first loan the EIB approved for science investments and technology in Serbia and the Western Balkans, which should make way for similar initiatives," said EIB Vice-President Dario Scannapieco. "The funds are just the first in a line of projects the EIB has financed in helping Serbia combat the global economic crisis and support its path to the EU."
"We will secure the money that will enable old projects, which are currently in a poor state, to become key infrastructure, Serbian Deputy Prime Minister Bozidar Djelic said, citing the Botanical Garden and construction of a new building for Belgrade's electrical engineering faculty as projects to be funded.
"There is also the possibility of building an environmental protection campus in the Kosutnjak park resort, repairing the University Presidency building in Novi Sad, building an IT incubator in Nis and opening a stem cell centre in Kragujevac that would be on par with European ones," he said.
About 1,000 apartments will be built for scientists and their families. The EIB loan will also fund the construction of a large regional biomedical facility within Belgrade's Clinical Centre and the opening of a Centre for the Promotion of Science.
President Boris Tadic says the loan deal, signed on March 4th, is one of the most important investments ever made to Serbia's economic development.
"We are investing in the future, in the development of Serbia. I am proud that we had the courage to make this decision at the worst moment," said Tadic, alluding to the economic crisis.
The state plans to invest about 220m euros over the next five years, with additional funds from the state budget, EU pre-accession funds, the European Bank for Reconstruction and Development and the Council of Europe Development Bank.
Source: SETimes.com
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