Serbia and the Saudi Fund for Development signed three agreements worth $205 million in the fields of science, agriculture, and energy, according to the Serbian Ministry of Finance.
The deals were signed by Serbian Finance Minister Siniša Mali and the Fund’s CEO, Sultan Abdulrahman Almarshad.
The projects include the construction of the BIO4 campus, featuring seven faculties, nine research centers, and 300 laboratories, the enhancement of irrigation infrastructure, and the development of Serbia’s EMS transmission system (Phase 1). Almarshad emphasized that these initiatives will significantly impact Serbia’s growth, particularly in boosting agricultural production and food security, advancing biotech research, and ensuring stable and sustainable energy access.
One of the agreements, focused on improving irrigation and agricultural infrastructure across various parts of Serbia, is valued at $75 million. Another $65 million is earmarked for the construction of the BIO4 campus, while the third agreement, also valued at $65 million, aims to expand energy infrastructure through the development of Phase 1 of the EMS transmission system.
Almarshad concluded that these projects will enhance Serbia’s economic resilience and improve the quality of life for future generations.
Photo: mfin.gov.rs/ Tanjug/ Sava Radovanović
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