World Bank approved loan of 13.5m USD for health care reforms in Serbia

(World Bank)

The World Bank announced today (March 20, 2009) that it had approved the loan of 13.5m USD (10.5m EUR) to Serbia for continuation of reforms in health care sector.

According to the announcement, the credit will be used for financing of technical aid to hospitals, the Medical Insurance Fund and the Ministry of Health for institutional and managerial reforms that should prepare the hospitals for introduction of the new payment system.

The credit is also intended for IT management for hospitals and the Medical Insurance Fund.

According to the data available on the website of the World Bank, the repayment period for that loan is 17 years, with the grace period of 5 years.

The Head of the World Bank’s Office in Serbia, Simon Grey, estimated that the time was right for expansion of health care reforms since the achievement of efficiency in public expenses at the time of the economic crisis was necessary.

The initial project of the World Bank was financing preliminary reforms with the aim of introduction of payments based on results and improvement of services in hospitals, while the new loan is going to provide support to the next phase of reforms.

The World Bank approved the loan of 20m USD to Serbia in mid-2003, with the repayment period of 20 years and grace period of 10 years, for the project for creation of capacities for development of sustainable health care system.

Svetska Banka-WB Beograd

Ministarstvo zdravlja Republike Srbije

Medical Insurance Fund of Serbia

Simon Grey