Serbia is to receive one billion euro in European Union pre-accession funds, following the country’s signing of the Stabilisation and Association Agreements with the union on April 29 2008, Serbian finance minister Marko Cvetković said, as quoted by Serbian media.

The money will be used for the development of rural regions, resolution of ecological problems, and projects in the field of education, Dnevnik daily quoted Cvetković as saying.

The funding was a stimulus for Serbian companies to increase their production, as well as a sign for foreign investors to invest in Serbia, according to Cvetković.