"Serbia can count on USD 400mn from World Bank"

Finance and Economy Minister Mlađan Dinkić says it has been suggested that Serbia could have USD 400mn in direct assistance to the budget from the World Bank.

Izvor: Tanjug

Tuesday, 31.07.2012.

09:32

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BELGRADE Finance and Economy Minister Mladjan Dinkic says it has been suggested that Serbia could have USD 400mn in direct assistance to the budget from the World Bank. It would come under "highly favorable conditions", Dinkic said after a meeting with a delegation of the World Bank in Belgrade on Monday. "Serbia can count on USD 400mn from World Bank" “These are loans with an 18-year repayment period, and 5-7 years of grace period, with an interest rate of a little above 1 percent, which are the most favorable terms on the global market,“ Dinkic explained. The pace at which the loans would be approved would depend on the speed at which the recommended reforms are implemented, as well as the agreement with the International Monetary Fund (IMF), the Ministry of Finance and Economy announced after the meeting. The second package of loans is dedicated to the investments projects aimed at improving agriculture, transport infrastructure, health care and other, the release reads. “I am satisfied with the meeting. We have discussed the measures which we intend to introduce in order to put the financial sector and entire public finances in order. The World Bank voiced readiness to offer assistance to Serbia. That is of immense importance for overcoming the catastrophic situation that the budget is currently in,” Dinkic said following the meeting. The officials also agreed that Serbia would continue to realize projects that had been previously , launched with the support of the World Bank. Besides the planned activities in the coming period, there are prospects for launching new projects, the release reads. The World Bank delegation was headed by Regional Coordinator for Southeast Europe Jane Armitage, and Country Manager for Serbia Loup Brefort. The meeting in Belgrade on Monday (Beta) Tanjug

"Serbia can count on USD 400mn from World Bank"

“These are loans with an 18-year repayment period, and 5-7 years of grace period, with an interest rate of a little above 1 percent, which are the most favorable terms on the global market,“ Dinkić explained.

The pace at which the loans would be approved would depend on the speed at which the recommended reforms are implemented, as well as the agreement with the International Monetary Fund (IMF), the Ministry of Finance and Economy announced after the meeting.

The second package of loans is dedicated to the investments projects aimed at improving agriculture, transport infrastructure, health care and other, the release reads.

“I am satisfied with the meeting. We have discussed the measures which we intend to introduce in order to put the financial sector and entire public finances in order. The World Bank voiced readiness to offer assistance to Serbia. That is of immense importance for overcoming the catastrophic situation that the budget is currently in,” Dinkić said following the meeting.

The officials also agreed that Serbia would continue to realize projects that had been previously ,

launched with the support of the World Bank.

Besides the planned activities in the coming period, there are prospects for launching new projects, the release reads.

The World Bank delegation was headed by Regional Coordinator for Southeast Europe Jane Armitage, and Country Manager for Serbia Loup Brefort.

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