World Bank gives Serbia US$ 192.5mn
The World Bank’s Board of Directors has approved US$ 192.5mn for five projects in Serbia.
Thursday, 21.06.2007.
10:25
World Bank gives Serbia US$ 192.5mn
The project for developing the Bor region, which will receive US$ 43mn, plans to solve environmental and social problems which resulted from the restructuring of the mining sector. The project also aims to secure new sources of economic growth and opportunities for employment in, as the World Bank stated, one of the poorest regions in eastern Serbia.Along with better environmental conditions in the region, decreasing the unemployment rate and providing growth in the sector of small and medium-sized businesses, is a project that should indirectly intensify activities in the area, and bring in added investments and donations, decreasing the need for state assistance.
For now, this project will receive US$ 10mn of interest-free credit which is due to be paid back in 20 years, and another worth US$ 33mn will be provided by IBRD.
The plan will also aid the National Agricultural Strategy to increase its competitiveness in the Serbian and international market, with US$ 17mn worth of loans and a donation of US$ 4.5mn.
The World Bank will also set aside US$ 50mn to a flood protection project.
Serbia will receive another US$ 50mn for the restoration of 113 kilometers of highways and regional roads.
Energy supplies, including lighting and heat in hospitals and schools and similar energy related problems, will be funded with US$ 28mn from the World Bank.
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