China National Electric Engineering Co. is planning an $1.2 billion (RMB7.392 billion) investment in Serbia, where the debt to GDP ratio is expected to exceed 70% this year, Bloomberg reported. The investment would be the country’s second biggest inflow of foreign direct investment from a single source and could create as many as 15,000 jobs. The money is a potential boon to Serbian Prime Minister Aleksandar Vucic, whose party of former nationalists have sought funding from its neighbors to the east while also seeking membership in the European Union within the next five years. Vucic’s government has taken infrastructure loans from China and Russia, both of which helped block full international recognition of the breakaway province of Kosovo.
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