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KfW Projects in Serbia

Energy sector emergency programme

Donor: Federal Ministry for Economic Cooperation and Development (BMZ)
Partner: Elektroprivreda Srbije (EPS)
Project period: 2001 – 2004


  • At the beginning of the new millennium, Serbia’s energy sector was in very poor condition due to prolonged economic sanctions and war damage.
  • The ever-increasing energy consumption of the population and industry could only be satisfied by a more efficient use of capacities. Existing facilities had, therefore, to be modernised. In addition, new production capacities were built up.


The aim of the emergency programme was to eliminate supply bottlenecks and to restart coal-fired power plants and coal mines in order to stabilise the electricity supply in Serbia. First, the import of electricity and spare parts was financed with EUR 15.3 million.

In October 2001, KfW signed another credit agreement with the Serbian Electric Utilities (EPS) amounting to approx. EUR 51 million to finance the import of spare parts, which were urgently needed for major overhauls in thermal power plants and coal mines.


The program:

  • enabled a stable electricity supply in Serbia in the winter 2001/2002,
  • enabled the overhaul of the largest power plant block in Serbia, Nikola Tesla B2.


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