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The Government of the Republic of Serbia

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A:

CoE Development Bank to approve loans for aid to refugees, flooded areas

Belgrade, 23 May 2005

Serbian Deputy Prime Minister Miroljub Labus said following a meeting with Council of Europe’s Development Bank Governor Raul Alomar today that the bank will approve favourable loans for three social-welfare projects to help refugees, relieve flood damage, and assist municipal development in underdeveloped areas.

According to Labus, the bank will send a technical commission to Belgrade to define concrete agreements for these projects.

Alomar said that the Development Bank is willing to provide financial assistance to refugees, displaced persons, and flooded areas in Serbia under very favourable terms and he added that assistance to Serbia-Montenegro for social development is also in its plans.

Alomar invited Serbia-Montenegrin authorities to seek help from the bank and he announced that proposed projects will be supported under the most favourable terms.

Serbia-Montenegro has been a member of the CoE Development Bank since April 2004.