World Bank considering new USD 200 mil arrangement

BELGRADE World Bank (WB) Country Manager for Serbia Loup Brefort said Thursday that the WB will consider the possibility for a new financial arrangement with Serbia. It would total USD 200 million this year and the same amount in 2014, as support for the structural reforms package implemented by the Serbian government. World Bank considering new USD 200 mil arrangement After meeting with representatives of the Ministry of Finance and Economy in Belgrade on Thursday, Brefort told reporters that the World Bank will continue with the procedures for granting the loan, explaining that the first step is to have it backed by the WB management, and then approved by the WB boards. The World Bank will conduct an independent analysis of the macroeconomic situation in Serbia and if it is found to be favorable, we will be able to process the loan, which would happen sometime in the fall, said Brefort. Earlier on Thursday, Brefort and Ellen Goldstein, World Bank Regional Coordinator for Southeast Europe, discussed opportunities for the new financial arrangement with Serbian Minister of Finance and Economy Mladjan Dinkic. During the meeting, they said that the World Bank supports structural reforms in Serbia and all the economic measures that have been taken to improve the business climate in the country. Brefort said that the World Bank strongly supports and welcomes the adoption of the Serbian government's action plan for restructuring former public enterprises. "We fully support the action plan and the World Bank management will also support any legislative amendments necessary to implement the action plan and harmonize Serbia's legislation with that of the EU," he said. Loup Brefort (Tanjug) Praises for government's "intent to conduct reforms" Ellen Goldstein, the World Bank's country director for the Western Balkans, has commended the action plan for resolving the status of 179 companies in the portfolio of the Privatization Agency prepared by the Serbian Ministry of Finance and Economy, the World Bank office in Serbia said in a release on Friday. Goldstein commended the government's readiness to decisively start the implementation of long-delayed reforms. The World Bank country director visited Belgrade on Thursday to express support for the government's efforts to reform the public sector and reaffirm her personal commitment to securing the bank's technical and financial support in implementing the program. She was very pleased to hear that the action plan for the 179 companies has been officially approved by the government, says the release. The World Bank shares the government's viewpoint that these reforms are key to any sensible economic recovery and fiscal adjustment. She stressed the measures are of crucial importance for dealing with the imbalance in the public sector, and a necessary condition for releasing the potential for economic growth and a sustainable rise in employment. Goldstein reiterated the World Bank's readiness to continue to work with the Ministry of Finance and Economy and other relevant government bodies to improve the legal framework needed for the implementation of the action plan, in line with highest international standards, reads the release. Tanjug

World Bank considering new USD 200 mil arrangement

After meeting with representatives of the Ministry of Finance and Economy in Belgrade on Thursday, Brefort told reporters that the World Bank will continue with the procedures for granting the loan, explaining that the first step is to have it backed by the WB management, and then approved by the WB boards.

The World Bank will conduct an independent analysis of the macroeconomic situation in Serbia and if it is found to be favorable, we will be able to process the loan, which would happen sometime in the fall, said Brefort.

Earlier on Thursday, Brefort and Ellen Goldstein, World Bank Regional Coordinator for Southeast Europe, discussed opportunities for the new financial arrangement with Serbian Minister of Finance and Economy Mlađan Dinkić.

During the meeting, they said that the World Bank supports structural reforms in Serbia and all the economic measures that have been taken to improve the business climate in the country.

Brefort said that the World Bank strongly supports and welcomes the adoption of the Serbian government's action plan for restructuring former public enterprises.

"We fully support the action plan and the World Bank management will also support any legislative amendments necessary to implement the action plan and harmonize Serbia's legislation with that of the EU," he said.

Praises for government's "intent to conduct reforms"

Ellen Goldstein, the World Bank's country director for the Western Balkans, has commended the action plan for resolving the status of 179 companies in the portfolio of the Privatization Agency prepared by the Serbian Ministry of Finance and Economy, the World Bank office in Serbia said in a release on Friday.

Goldstein commended the government's readiness to decisively start the implementation of long-delayed reforms.

The World Bank country director visited Belgrade on Thursday to express support for the government's efforts to reform the public sector and reaffirm her personal commitment to securing the bank's technical and financial support in implementing the program.

She was very pleased to hear that the action plan for the 179 companies has been officially approved by the government, says the release.

The World Bank shares the government's viewpoint that these reforms are key to any sensible economic recovery and fiscal adjustment.

She stressed the measures are of crucial importance for dealing with the imbalance in the public sector, and a necessary condition for releasing the potential for economic growth and a sustainable rise in employment.

Goldstein reiterated the World Bank's readiness to continue to work with the Ministry of Finance and Economy and other relevant government bodies to improve the legal framework needed for the implementation of the action plan, in line with highest international standards, reads the release.