EBRD to intensify assistance in Balkans' recovery from floods

The European Bank for Reconstruction and Development (EBRD) announced in a release on Tuesday that it was going to intensify its involvement in the recovery of the Balkans from devastating floods.

The Bank is considering granting aid for the recovery of local companies and the reconstruction of infrastructure, and these funds should be allocated in cooperation with other international finance institutions.

EBRD President Suma Chakrabarti, who is coming on a three-day visit to Belgrade on Wednesday, will talk with the Serbian government about the details and priorities in the recovery from floods that caused huge damages to homes, companies and infrastructure across the Balkans, the Bank said in a statement sent to Tanjug news agency.

A major portion of the territory of Bosnia-Herzegovina, Serbia and eastern Croatia are under water which still poses a threat to a number of areas. Floods also caused casualties, while hundreds of thousands of people are left homeless and without drinking water.

During his visit to Belgrade, the EBRD president will meet with the state officials of Serbia, including Prime Minister Aleksandar Vucic and President Tomislav Nikolic, the release reads.