Q:
A:
Serbia-Montenegro signs three projects with World Bank
Belgrade,
22 June 2005
Serbia-Montenegrin Minister of International Economic Relations Predrag Ivanovic and World Bank Country Manager in Serbia-Montenegro Carolyn Jungr have signed an agreement on a $25 million loan for the Consolidated Collection and Pension Administration Reform Project in Serbia.
Ivanovic said following the signing ceremony yesterday that the project, which is expected to make the pension system more efficient, comes under very favourable terms, with a repayment period of 20 years and a grace period of 10 years.
Ivanovic and Jungr also signed an agreement on a donation from the Global Environment Fund for a $9.02 million project to reduce industrial pollution in the Danube.
Ivanovic explained that the project, to be implemented over four years, will reduce the level of pollution in the Danube caused by wastewaters issued by farms and slaughterhouses.
Ivanovic and Jungr also signed a Letter of Understanding concerning a Japanese donation for the preparation of a project to improve agricultural production and relieve poverty in rural areas.
The donation, worth $570,000, will help to boost employment and improve access to services in Serbia-Montenegrin villages, Ivanovic explained.
He recalled that in 2005 Japan has also set aside $950,000 for Serbia’s banking sector reform, $840,000 for preparing public administration reform, $286,000 for studies on improving the quality of waters, as well as $379,555 for education reform in Montenegro.
Describing Serbia-Montenegro’s cooperation with the World Bank as successful, Ivanovic recalled that the bank has financed more that 20 development projects in Serbia-Montenegro since 2001, worth a total of $585 million.
Japanese Ambassador to Serbia-Montenegro Ryuici Tanabe explained that Japan’s government has supported a series of projects in health, finance, exports, property registration, education, and water management, totaling $6.95 million.
According to him, the reason for this active support is the fact that Japan believes that macroeconomic stability is a pre-condition for political stability and economic development not only in Serbia-Montenegro but in the entire Western Balkans.
Noting that these projects are just a portion of assistance to Serbia-Montenegro, Jungr announced three more projects in Serbia and one in Montenegro.
She pointed out that this is support to reforms, with the aim of improving macroeconomic stability and economic growth.
Ivanovic and Jungr also signed an agreement on a donation from the Global Environment Fund for a $9.02 million project to reduce industrial pollution in the Danube.
Ivanovic explained that the project, to be implemented over four years, will reduce the level of pollution in the Danube caused by wastewaters issued by farms and slaughterhouses.
Ivanovic and Jungr also signed a Letter of Understanding concerning a Japanese donation for the preparation of a project to improve agricultural production and relieve poverty in rural areas.
The donation, worth $570,000, will help to boost employment and improve access to services in Serbia-Montenegrin villages, Ivanovic explained.
He recalled that in 2005 Japan has also set aside $950,000 for Serbia’s banking sector reform, $840,000 for preparing public administration reform, $286,000 for studies on improving the quality of waters, as well as $379,555 for education reform in Montenegro.
Describing Serbia-Montenegro’s cooperation with the World Bank as successful, Ivanovic recalled that the bank has financed more that 20 development projects in Serbia-Montenegro since 2001, worth a total of $585 million.
Japanese Ambassador to Serbia-Montenegro Ryuici Tanabe explained that Japan’s government has supported a series of projects in health, finance, exports, property registration, education, and water management, totaling $6.95 million.
According to him, the reason for this active support is the fact that Japan believes that macroeconomic stability is a pre-condition for political stability and economic development not only in Serbia-Montenegro but in the entire Western Balkans.
Noting that these projects are just a portion of assistance to Serbia-Montenegro, Jungr announced three more projects in Serbia and one in Montenegro.
She pointed out that this is support to reforms, with the aim of improving macroeconomic stability and economic growth.
-
Kostolac, 14 July 2025First solar power plant Petka in Kostolac put into trial operation
-
Belgrade, 11 July 2025Potential for improving cooperation with Belarus in many areas
-
Požega, 5 July 2025Section of Pakovraće - Požega highway officially opened
-
Belgrade, 2 July 2025Technical specifications defined for Serbia-Hungary oil pipeline
-
Belgrade, 30 June 2025IMF confirms Serbia successfully implementing all agreed reforms
-
Belgrade, 27 June 2025Double Taxation Avoidance Agreement with Germany signed
-
Kostolac, 25 June 2025Construction of Kostolac wind farm nearing completion
-
Belgrade, 24 June 2025Government supports request for new postponement of sanctions against NIS
-
Belgrade, 23 June 2025Procedures to facilitate sale of Serbian products to China to be accelerated
-
Belgrade, 21 June 2025Serbia receives first funds under Growth Plan for the Western Balkans