| Project Detail |
The development objective of the First Serbia Green Transition Programmatic Development Policy Loan for Serbia is to support the Government of Serbia’s (GoS’s) efforts to: (1) better align fiscal management with the climate-change agenda, (2) accelerate the clean energy transition, and (3) align with European Union (EU) standards on environment and climate action. Maintaining a stable macro-fiscal framework and promoting climate smart fiscal policy are prudent choices in the context of renewed fiscal constraints due to the ongoing energy crisis. In Pillar 1, this operation supports the following reforms: in-year reporting on the budget execution to increase transparency on budgetary spending including on environment and climate-related activities; the fiscal risks assessment methodology to consider the potential impact on public finances caused by natural disasters; and a climate-smart public investment management system. Pillar 2 supports the GoS’s efforts to speed up a sustainable transformation of the energy sector, by improving residential energy efficiency; increasing the share of renewable energy; accelerating energy market reforms; ensuring the financial sustainability of the utility Elektroprivreda Srbije (EPS); and strengthening the support for energy-vulnerable consumers. Pillar 3 supports the alignment of domestic legislation with EU legislation to reduce greenhouse gases (GHG) emissions; improve waste management; and enhance air quality.
The objective of the First Serbia Green Transition Programmatic Development Policy Loan is to support the Government of Serbia’s eff orts to: 1) better align fiscal management with the climate-change agenda, 2) accelerate the clean energy transition, and 3) align w ith European Union standards on environment and climate action.
Project Details
Project ID
P177410
Status
Active
Team Leader
Lazar Sestovic,Katharina B. Gassner,Sameer Akbar
Borrower 2
Republic of Serbia
Country
Serbia
Approval Date
(as of board presentation)
March 9, 2023
Total Project Cost 1
US$ 0.00 million
Implementing Agency
Ministry of Finance
Region
Europe and Central Asia
Fiscal Year 3
2023
Commitment Amount
US$ 160.00 million
Environmental Category
N/A
Last Update Date
March 9, 2023
Closing Date
June 30, 2024
Last Stage Reached
Bank Approved
Associated Projects
P178115 |
