SERBIA TAKES A NEW LOAN FROM FRANCE: Tens of millions for the “development of artificial intelligence and supercomputers”!

The Republic of Serbia is taking a loan from France for the development of high-performance computers—supercomputers—and artificial intelligence. As stated in the Draft Law related to this project, Serbia will take a loan of 42.5 million euros from the French Treasury, and at least 50 percent of the goods and services necessary for the implementation of this project will have to be imported from France.

Serbia and France signed an Agreement on cooperation in the field of implementing priority projects in Serbia as far back as six years ago, and later two additional annexes were initialed. It is precisely this document that provides for the financing of projects such as this one. The Government will take out a loan of 42.5 million euros for the project of developing supercomputers and artificial intelligence. This amount represents 85 percent of the value of the contract.

As stipulated by the financial protocol, Serbia is obliged to procure French goods and services, under the responsibility of the French supplier, while 50 percent of the loan is intended for purchases in Serbia and third countries. It is also stated that the French supplier is responsible for the execution of the contract.

Procurement of products from France

“Upon completion of the project, the French Treasury will require the French supplier to undergo possible audits of the amounts received, in order to determine the exact share of goods and services of French origin,” the Financial Protocol states.

The loan agreement was signed on November 27 of last year, and on behalf of the Republic of Serbia the document was signed by Siniša Mali. On the other side, the French Ambassador to Belgrade, Florence Ferrari, represented the agency Bpifrance assurance export, which acts on behalf of the French government.

The explanation of the Draft Law related to the loan states that the project is part of the National Platform for Artificial Intelligence, as well as the strategic goals defined by the Strategy for the Development of Artificial Intelligence in Serbia for the periods 2020–2025 and 2025–2030.

For sustainable energy, transport, health…

It is also stated that the Agreement provides that the Government of France may provide Serbia with financial support for the procurement of supercomputers and use cases of artificial intelligence in the sectors of sustainable energy, transport, and health, as well as for the creation of a center of excellence in Serbia.

The Law on the Budget of the Republic of Serbia for 2025 has already provided for borrowing from foreign financial institutions for the development of artificial intelligence, precisely in the amount of 42.5 million euros.

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Source: Nova.rs; Foto: EPA-EFE / KOČA SULEJMANOVIĆ