World Bank loan "conditional on passing three laws"

BELGRADE The adoption of the laws on privatization, bankruptcy and building permits by the end of the year is a condition for Serbia to get an USD 250mn World Bank loan. This has been announced by the World Bank Country Manager for Serbia Tony Verheijen. World Bank loan "conditional on passing three laws" Verheijen told the public broadcaster RTS that the draft Serbian budget was "a step in the right direction." Verheijen said after the meeting of a WB delegation with Serbia’s First Deputy Prime Minister Aleksandar Vucic that there have never been any disagreements between Serbia and the WB, particularly when it comes to the reforms that the loan should support. "We talked about the restructuring of enterprises and four laws that should be adopted. The adoption of the three bills is our condition for the loan, but they are important for the government as well. These are the laws on privatization, bankruptcy and the issuance of building permits. Our loan is not conditional on the fourth, labor law, but it would be better for everyone if it changed soon," Verheijen told RTS. He added that the three laws need to be adopted by the end of the year, whereas the labor law can wait, although it would be better if even that is done by the end of February. "We should conclude all negotiations with the government by January 15 and be ready to present the loan program before our Board of Directors on February 27," Verheijen said. He added that the fact that Serbia will move forward and be solving the problem of enterprises in restructuring, which are a noose tightened around economy’s neck, is more important that the laws themselves. (Tanjug, file) Tanjug

World Bank loan "conditional on passing three laws"

Verheijen told the public broadcaster RTS that the draft Serbian budget was "a step in the right direction."

Verheijen said after the meeting of a WB delegation with Serbia’s First Deputy Prime Minister Aleksandar Vučić that there have never been any disagreements between Serbia and the WB, particularly when it comes to the reforms that the loan should support.

"We talked about the restructuring of enterprises and four laws that should be adopted. The adoption of the three bills is our condition for the loan, but they are important for the government as well. These are the laws on privatization, bankruptcy and the issuance of building permits. Our loan is not conditional on the fourth, labor law, but it would be better for everyone if it changed soon," Verheijen told RTS.

He added that the three laws need to be adopted by the end of the year, whereas the labor law can wait, although it would be better if even that is done by the end of February.

"We should conclude all negotiations with the government by January 15 and be ready to present the loan program before our Board of Directors on February 27," Verheijen said.

He added that the fact that Serbia will move forward and be solving the problem of enterprises in restructuring, which are a noose tightened around economy’s neck, is more important that the laws themselves.