Serbian Prime Minister Vojislav Kostunica has met with Olivier Descamps, the European Bank for Reconstruction and Development's (EBRD) Director for Southern and Eastern Europe and the Caucasus, who said that the bank is drawing up a new investment project for Serbia-Montenegro which should be completed early this summer.

Noting that the EBRD's long-term projects for the state union's energy, mining and railway sectors are being carried out successfully, Descamps said that the bank is also ready to support short-term projects to help Serbia & Montenegro develop small and medium-sized enterprises.

As part of efforts to beef up its economic growth, Serbia must bring its laws up to EU standards and strengthen the judiciary, said Kostunica.

Descamps also noted that Belgrade will host EBRD's 2005 annual meeting which will bring together a number of shareholders and investors, as well as representatives of the EU and the European Investment Bank (EIB).

(NewsBase 15.iii.04)