- Category: Politics
- Published on Wednesday, 13 October 2021 08:20
October 12, 2021
The Serbian electricity distribution company (EDB) will take a 40 million Euro loan from the European Bank for Reconstruction and Development (EBRD) to finance its smart meter project.
Nova Ekonomija magazine said that the loan will be guaranteed by the Serbian government, adding that the loan is for the first stage of the project which will cost a total of 80 million Euro. The magazine said that the second stage of the project will be financed with another 40 million Euro loan from the European Investement Bank (EIB) with state guarantees as well.
A draft law said that Serbia unconditionally guarantees the timely repayment of the loans and all EDB dues. The loan will be repaid in 18 installments with May 10, 2034 listed as the date of the final payment. Payments will be made every May 10 and November 10. The draft law says that the project is being launched becase a large number of households have outdated meter which are slowing down distribution. Smart metering will allow the introduction of new producers of power from renewable sources.