Q:
A:
World Bank guarantee to facilitate Serbia’s access to financial markets
Belgrade,
13 January 2011
The Ministry of Finance and the World Bank reached agreement over a project which will enable Serbia to use guarantee as a World Bank advanced instrument.
Thanks to the World Bank guarantee, Serbia will have faster, easier and more favourable access to commercial financial markets in a time when foreign investors’ interest is pretty low.
This means that Serbia will be able to secure $400 million in commercial loans at the international market at a much lower interest rate and with a longer repayment period.
The guarantee will be enforced as soon as it is approved by the World Bank Board of Executive Directors and ratified by the Serbian Parliament.
This form of cooperation between Serbia and the World Bank was agreed upon in Washington during the official talks with a Serbian delegation, led by Advisor to the Minister of Finance Vladan Manic. Serbia is the third state with which the World Bank has agreed this form of guarantee, the Ministry of Finance adds in a statement.
This means that Serbia will be able to secure $400 million in commercial loans at the international market at a much lower interest rate and with a longer repayment period.
The guarantee will be enforced as soon as it is approved by the World Bank Board of Executive Directors and ratified by the Serbian Parliament.
This form of cooperation between Serbia and the World Bank was agreed upon in Washington during the official talks with a Serbian delegation, led by Advisor to the Minister of Finance Vladan Manic. Serbia is the third state with which the World Bank has agreed this form of guarantee, the Ministry of Finance adds in a statement.
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