VERHEIJEN: World Bank loan in December

(Photo: mc.rs)

(Toni Verheijen)

The World Bank Country Manager in Belgrade, Toni Verheijen, said the World Bank is currently negotiating with Serbia on the projects to be funded from the loan totaling USD 300 planned for flood damages rehabilitation.

The World Bank Country Manager in Belgrade specified that some USD 150 m will be approved for electricity import since EPS could not fund it on its own and company financial operations would be endangered and added he believes the Government thus wanted to avoid almost evident electricity cuts in the winter.

Additional USD 50 m, as he said, will be set aside for rehabilitation of electrical and energy facilities and water pumping out from the Tamnava West field, a total of USD 70 m will be singled out for the support to farmers in 49 municipalities and some USD 22 m for rehabilitation of damages at hey flood protection systems.

Verheijen outlined reforms in Serbia are late and the price of delays is over a billion euros per year.