Belgrade, Jan. 21, 2010, (Serbia Today) - Serbia should make better use of approved loans or risk having the money reduced or given to someone else, said Simon Grey, head of the World Bank‘s Belgrade office, in an interview with Blic reported January 18, 2010.
“Definitely there is a problem. There are some signs of improvement, but (we) can not say everything is fine regarding the withdrawal of approved loans.” As specific examples Grey pointed to loans for irrigation and drainage and the central registry for pensions. He also said that for the year 2010 the World Bank will not approve any (new) investment loan to Serbia except for USD 200m to support to the budget.
“I do not know whether you can call (reducing the loan or giving it to someone else) a penalty, but it will be one of the options if the situation does not improve.” the Head of the World Bank's Office in Serbia warned. “Therefore in April Director of the World Bank for South-East Europe Jane Armitage is coming back to Serbia to look at hoe money is spent on approved projects.”
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