World Bank's USD 250 million loan for Serbia conditional on adoption of privatization and bankruptcy laws

World Bank Country Manager for Serbia Tony Verheijen said Wednesday that the Privatization Law and amendments to the Bankruptcy Law must be adopted by the year's end in order for that bank to consider granting a USD 250 million loan for Serbia's budget.

Verheijen told Beta news agency that it was also necessary to start the application of those laws in addition to adopting them.

He noted that it would be great if Serbia also passed the Labor Law and the Law on Planning and Construction before the World Bank Executive Board decided to extend aforementioned loan.

As previously announced, the outcome of the loan talks with Serbia should be presented to the Executive Board of the World Bank on February 27th.