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Figures from the Serbian government's Recovery Needs Assessment Report showed that the May 2014 floods cost the country's economy about €1.6 billion ($1.95 billion), reports InSerbia News.
"The damage caused to the city of Belgrade is very serious" and the European Bank for Reconstruction and Development is "stepping in to help the administration with its flood-recovery plan," said an EBRD official.
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3. Turkish airlines cancel flights to Iran and Iraq amid war concerns
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms