Belgrade, Nov 30, 2009 – Serbian Minister of Finance Diana Dragutinovic said on Friday that the Serbian government signed the USD 200 million loan agreement with the International Bank of Reconstruction and Development (IBRD), and finalized this phase of the planned budget stabilization program.
Dragutinovic said at a press conference that the World Bank gave final approval for the USD 500 million loan to Serbia on November 17, and the document was finally prepared for signatures this last week.
The USD 200 million installment of the loan will be provided this year. Dragutinovic said that the Serbian Parliament is expected to ratify the bill concerning the loan by the end of this year.
Dragutinovic explained that there are two loan agreements, one of which concerns funds for supporting the private and financial sector and the other is part of the program loan for supporting public financing and stabilizing the budget.
The loan has annual interest rate of 1% and is to be repaid over the next 20 years.
Head of the World Bank Office in Serbia, Simon Gray, said that the loans for assisting the Serbian budget have been approved in order to help the public sector reform process and to create better conditions for the development of the private sector.
No comments:
Post a Comment