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A:
World Bank approves $85 million in loans
Belgrade,
26 May 2004
The World Bank (WB) Board of Directors approved last night in Washington two loans for Serbia-Montenegro, totalling $85 million. The first $55 million loan is for a project of Rehabilitation of Serbian Roads, and another $30 million for a project of Real Estate Cadastre and Registration of Property in Serbia, the WB Belgrade office stated today, and the Tanjug news agency reported. The loan is interest free, with a 20-year maturity date and a 10-year grace period.
The first project of rehabilitation of Serbia's roads will improve the road infrastructure and strengthen the sector's institutions. The WB's financial arrangement includes technical assistance, personnel training and purchase of equipment for better work of the Serbian Roads Directorate, which will have a computerised database of roads and bridges on the main and regional routes.
The second component of the project is the enhancement of road maintenance, rehabilitation and safety. In the districts of Macva and Kolubara, the project will finance the rehabilitation of seven sections of the main road network, and the maintenance of main and regional roads.
The second project of real estate cadastre and registration of property in Serbia also has two components. The first component deals with operational development and support which will allow the Serbian Geodetic Bureau to speed up completion and maintenance of the real estate cadastre system and deliver quality services to all constituencies. The second component provides capacity building and institutional strengthening for the Bureau. It will have an opportunity to speed up completion of the real estate cadastre in cities, which is a priority, and rural areas connected to them.
Since 2001, the World Bank approved to Serbia-Montenegro around $510 million in interest-free loans for 16 projects.
The second component of the project is the enhancement of road maintenance, rehabilitation and safety. In the districts of Macva and Kolubara, the project will finance the rehabilitation of seven sections of the main road network, and the maintenance of main and regional roads.
The second project of real estate cadastre and registration of property in Serbia also has two components. The first component deals with operational development and support which will allow the Serbian Geodetic Bureau to speed up completion and maintenance of the real estate cadastre system and deliver quality services to all constituencies. The second component provides capacity building and institutional strengthening for the Bureau. It will have an opportunity to speed up completion of the real estate cadastre in cities, which is a priority, and rural areas connected to them.
Since 2001, the World Bank approved to Serbia-Montenegro around $510 million in interest-free loans for 16 projects.
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