Q:
A:
World Bank extends $46 million for EPS and water supply system projects
Belgrade,
8 September 2005
Head of the World Bank Office in Serbia-Montenegro Caroline Junger and Serbia-Montenegrin Minister of International Economic Relations Predrag Ivanovic signed today agreements on loans totalling $46 million for the purpose of financing the Serbian Electric Power Company (EPS) and a water supply system project in Serbia.
Caroline Junger, left, and Predrag Ivanovic
Author:
Fonet
A project on the regional energy market of southeast Europe will be funded with approximately $21 million, whereas another one, concerning the development of irrigation and drainage systems, with $25 million.
The aim of the loan for EPS is improving access of suppliers and end users to electricity markets through an increase in the amount, quality, reliability, safety and efficiency of the power transfer system, and also by helping electricity institutions strengthen their capacities so as to take part in the regional electric power market.
As part of the loan for EPS, around $14 million have been set aside as special regional funds which do not count for total funds set aside for Serbia under a three-year Country Assisted Strategy (CAS) arrangement.
As for the irrigation and drainage systems project, Serbia-Montenegro is the debtor, having signed a loan agreement with the World Bank, with counter guarantees being issued by Serbia.
The purpose of the loan is to regulate Serbia’s water supply sector through reconstruction of the infrastructure of the system of water supply and flood prevention, development of pilot systems for irrigation and various other projects concerning irrigation and drainage systems.
The interest-free loan with the World Bank envisages a ten-year grace period and a repayment term of 20 years.
The aim of the loan for EPS is improving access of suppliers and end users to electricity markets through an increase in the amount, quality, reliability, safety and efficiency of the power transfer system, and also by helping electricity institutions strengthen their capacities so as to take part in the regional electric power market.
As part of the loan for EPS, around $14 million have been set aside as special regional funds which do not count for total funds set aside for Serbia under a three-year Country Assisted Strategy (CAS) arrangement.
As for the irrigation and drainage systems project, Serbia-Montenegro is the debtor, having signed a loan agreement with the World Bank, with counter guarantees being issued by Serbia.
The purpose of the loan is to regulate Serbia’s water supply sector through reconstruction of the infrastructure of the system of water supply and flood prevention, development of pilot systems for irrigation and various other projects concerning irrigation and drainage systems.
The interest-free loan with the World Bank envisages a ten-year grace period and a repayment term of 20 years.
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