New program with World Bank kicks off July 1st - Loan of over USD 600 million for Serbia in 2015

Serbian Finance Minister Dusan Vujovic said Saturday (25 April 2015) that the new four-year program with the World Bank, under which Serbia should get a loan of over USD 600 million in 2015 and more money in the years to come, was effectively coming into force on July 1st.

- This program will bring Serbia more than USD 600 million this year and even more money in the next few years, and how much of this money will be used this year depends on our budget needs and capacity to support structural reforms in enterprises - Vujovic told a press conference in the Serbian government while presenting the results of the Finance Ministry in the past year.

He reminded that the World Bank had already granted a loan to Serbia to help 188 enterprises from the list of the Privatization Agency of Serbia that would go bankrupt.

As the minister noted, now they're preparing a loan for enterprises that are expected to be successful.

Vujovic said that the World Bank would back the country in other structural measures too, including the reform of large public enterprises like Serbian Railways.