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Serbia's c-bank completes IPA-funded EU banking project

Serbia's c-bank completes IPA-funded EU banking project By NMedjedov (Own work), via Wikimedia Commons

BELGRADE (Serbia), December 20 (SeeNews) - Serbia's central bank, NBS, said on Monday it has successfully completed another project funded by the Instrument for Pre-Accession Assistance (IPA) mechanism of the European Union.

Dubbed, "Programme for Strengthening the Central Bank Capacities in the Western Balkans with a view to the Integration to the European System of Central Banks," the program was conducted by the Deutsche Bundesbank, 17 national central banks of the European System of Central Banks (ESCB) and the European Central Bank (ECB), a separate statement by Bundesbank said.

The project included activities tied to banking supervision, financial stability, consumer protection and financial inclusion, and monetary policy, among other things, NBS said.

"Despite the COVID-19 pandemic, all of the project goals have been fulfilled. By participating in the project, NBS once again demonstrated its strong commitment to the European values and central banking standards applied in the EU," the central bank said in a statement.

Apart from NBS, project also included the Bank of Albania, the Central Bank of Bosnia and Herzegovina, the Banking Agency of the Federation of Bosnia and Herzegovina, the Banking Agency of Republika Srpska, the Central Bank of the Republic of Kosovo, the Central Bank of Montenegro, the National Bank of the Republic of North Macedonia, Bundesbank said.

The project started in March 2019, with a budget of 2 million euro ($2.26 million), data published by Bundesbank showed.

($ = 0.8857 euro)

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