192,5 million dollars for Serbia

Washington – The World Bank Board of Directors granted 192,5 million dollars for five projects in Serbia, the institution reported last night.

The projects concern the development of the Bor region, improving the competitiveness of agriculture in Serbia, flood protection, improving the state and safety of the roads and highways as well as improving energy efficiency in schools and hospitals, as stated in the brief.

The Bor Regional Development Project, for which a total of 43 million dollars was allocated aims to solve ecological and social problems that stem from the restructuring of the mining sector, and provide new sources of agricultural growth and new workplaces in one of, as the Bank states poorest regions of Eastern Serbia.

In addition to better ecological conditions in the region, cutting down on unemployment and growth in the small and mid-level enterprise sector, the project, as stated should indirectly help intensify the economic activities in the region, attract additional investments and donations and reduce the need for state help.

10 million of interest-free credit with 20 years of term of payment will be provided by the IDA, and a loan of 33 million with a 17 year term of payment will be provided by the IBRD.

Regarding other approved projects, The World Bank allocated a 17 million dollar loan and a 4.5 million grant for the National Agricultural Strategy in Serbia, and the competitiveness of its products on the serbian and international market.

50 million dollars were allocated by the World Bank to a project whose aim is to provide protection from the floods along the banks of the Sava and Dunav rivers.

The largest singular activity will be regarding the basin of the river Tisa. Attention will be given to the flood protection in the Tamis and Velika Morava region.

As part of the road reconstruction programme, Serbia will recieve an additional 50 million for the repairs on 13 capital and regional routes.

World Bank funds ammounting to 28 million dollars, Serbia will, as stated, use for solving problems related to energy supplies, lighting and heating in hospitals, schools and similar objects all around the country.(source: Beta)

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