Q:
A:
World Bank to provide €34.9m loan
Belgrade,
30 March 2009
Serbian Minister of Finance Diana Dragutinovic and Head of the World Bank Office for Serbia Simon Grey today signed an agreement concerning a programme loan for the development of the private and financial sector.
Author:
Tanjug
Following the signing of the agreement between Serbia and the World Bank for Reconstruction and Development, Dragutinovic specified that the loan worth €34.9 million must be repaid over the next 20 years.
According to her, the money has been set aside for the Serbian budget and is not related to any project, but to state and public administration reforms.
Dragutinovic recalled that in 2007 the World Bank Management Board approved a partnership strategy with Serbia, adding that today’s agreement is the first part of that package.
Grey pointed out that in order to receive the loan the Serbian government has had to implement a series of reforms, such as the introduction of a one-counter system for enterprise registration and private insurance and the announcement of tenders for the private sector’s participation in the Serbian energy sector.
He pointed out that it is of major importance that Serbia continues reforms and voiced his hope that in the upcoming period Serbia will receive another loan, which will help it surmount the crisis.
According to Grey, this loan will help set up new enterprises and attract foreign direct investments.
The loan will also help Serbia to continue public sector reforms and develop a more stable financial sector by strengthening control over the banking sector and developing the capital market.
According to her, the money has been set aside for the Serbian budget and is not related to any project, but to state and public administration reforms.
Dragutinovic recalled that in 2007 the World Bank Management Board approved a partnership strategy with Serbia, adding that today’s agreement is the first part of that package.
Grey pointed out that in order to receive the loan the Serbian government has had to implement a series of reforms, such as the introduction of a one-counter system for enterprise registration and private insurance and the announcement of tenders for the private sector’s participation in the Serbian energy sector.
He pointed out that it is of major importance that Serbia continues reforms and voiced his hope that in the upcoming period Serbia will receive another loan, which will help it surmount the crisis.
According to Grey, this loan will help set up new enterprises and attract foreign direct investments.
The loan will also help Serbia to continue public sector reforms and develop a more stable financial sector by strengthening control over the banking sector and developing the capital market.
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