DINKIC: World Bank to support Serbian budget with USD 400 mil

(Mladjan Dinkic)

In the upcoming period, Serbia could count on USD 400 mil of direct budget support from the World Bank under very favorable terms, Mladjan Dinkic, the Minister of Trade and Finance has said today.

- It is about loans of 18 year-maturity and starting period of 5-7 years with an interest rate a bit higher than 1%, which is definitely the most favorable terms at the world market – Dinkic said and the Ministry of Finance and Trade announced.

As it was said, the dynamics of loans will depend on tempo of implementation of suggested reforms and agreement with the International Monetary Fund.

Dinkic said that the second package of loans referred to investment projects for promotion of agriculture, traffic infrastructure, and health and similar.

He estimated that he was satisfied with the meeting where they discussed measures for implementation of order in the financial sector and finance in general.

- The World Bank expressed readiness to continue in supporting Serbia. It is very important in order to overcome catastrophic situation of the budget as soon as possible – Dinkic said.

The World Bank Delegation, which met the Minister Dinkic today, was headed by the Coordinator of the World Bank for Southeast Europe, Jane Armitage and the chief of the World Bank Serbia Office, Loup Brefort.

At the meeting, it was concluded that implementation of projects started in Serbia would continue with the World Bank support and that there was potential and readiness to start new ones.