World Bank preparing for new cooperation framework with Serbia

World Bank preparing for new cooperation framework with Serbia

World Bank preparing for new cooperation framework with Serbia Izvor: Tanjug / Sava Radovanović

Serbian Finance Minister and the country’s Governor in the World Bank Sinisa Mali met with the bank’s Executive Director for Serbia Werner Gruber to discuss the financing of new projects, a Finance Ministry statement said on Friday.

Mali told Gruber that Serbia is in a completely different position than it was several years ago mainly thanks to macro-economic results and fiscal consolidation. “A new framework for cooperation with the World Bank will be discussed. It will cover the next few years and will have a different basis than the existing framework mainly thanks to the fact that the economy is much more stable,” he is quoted as saying.

Under the cooperation framework, Serbia can get up to 13 new loans to a total value of 1.6 billion Dollars to implement various development policies. Mali said the 2019 budget includes a new loan from the World Bank worth 465 million Dollars.

Gruber is quoted as saying Serbia-World Bank cooperation is at a high level. “World Bank cooperation with any country is always based on an agreed framework covering a period of four to five years. The current framework for Serbia ends in 2020 and we need to start preparing a new framework which will be an opportunity for Serbia to identify its priorites,” he said.

Serbia is represented in the World Bank by Executive Director Gruber along with Poland, Kazakhstan, Aserbaijan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan.

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