World Bank gives loans to Serbia for roads and health care

World Bank Chief Economist Lazar Sestovic has told the national broadcasting corporation RTS that the proceeds of the World Bank's USD 2.2 billion loan to Serbia will be used to solve the problems Serbia has been facing over the past 15 years. Maintaining a good relationship with the IMF and implementing structural reforms are the main conditions for using the loan, Sestovic points out.

As Lazar Sestovic noted, it is the most important for Serbia that the IMF program is underway and that our country is lent a record amount of USD 2.2 billion.

Sestovic points out that the amount of this loan is big, adding that this reflects the quality of relations between Serbia and global finance institutions.

He also stressed that Serbia's responsibility is huge and that the main condition is to resume the implementation of structural reforms.

When asked what projects will be financed with the proceeds of this loan, Sestovic says the money will primarily be used to support the budget and cover the budget deficit.

Part of the proceeds will be invested in investment projects, primarily those focusing on health care, energy and infrastructure, Sestovic underlines.

Speaking about loan terms, the chief economist of the World Bank stresses that the terms under which our country gets loans are more favorable than any other country can get.