PM, World Bank reach agreement on four-year deal
Serbian Prime Minister Mirko Cvetković and World Bank Managing Director Ngozi Okonjo-Iweala reached agreement Sunday on a four-year deal worth USD 800mn.
Sunday, 17.04.2011.
14:53
Serbian Prime Minister Mirko Cvetkovic and World Bank Managing Director Ngozi Okonjo-Iweala reached agreement Sunday on a four-year deal worth USD 800mn. According to the agreement, Serbia will be able to withdraw USD 200mn every year during the four-year period. PM, World Bank reach agreement on four-year deal Following the meeting, Cvetkovic told Tanjug that the USD 800mn loan was the minimum amount, and that Serbia would be able to draw additional funds from the World Bank if necessary. "This is the minimum sum and it can be increased, depending on our success in drawing the funds. They accepted my proposal to direct 50 percent of the funds towards covering the budget deficit and the remaining 50 percent to projects, where we would choose a smaller number of major projects in order to ensure efficiency," the prime minister said. Cvetkovic reminded that Serbia still had at its disposal USD 400mn for road infrastructure from the previous arrangement. Mirko Cvetkovic (Tanjug)
PM, World Bank reach agreement on four-year deal
Following the meeting, Cvetković told Tanjug that the USD 800mn loan was the minimum amount, and that Serbia would be able to draw additional funds from the World Bank if necessary."This is the minimum sum and it can be increased, depending on our success in drawing the funds. They accepted my proposal to direct 50 percent of the funds towards covering the budget deficit and the remaining 50 percent to projects, where we would choose a smaller number of major projects in order to ensure efficiency," the prime minister said.
Cvetković reminded that Serbia still had at its disposal USD 400mn for road infrastructure from the previous arrangement.
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