Belgrade takes 142 million dollars loan from World Bank for three projects

NEWS 07.05.2019 12:24
Source: Tanjug/Dimitrije Goll

Serbia’s Finance Minister Sinisa Mali and Stephen Ndegwa, the World Bank (WB) Country Manager for Serbia, signed three agreements worth 142 million dollars to finance the modernisation of tax administration, the improvement of E-government and to comfort the regional trade, the Beta news agency reported on Tuesday.

Serbia’s Finance Minister said the arrangements with the WB were agreed “under very favourable conditions,” but gave no details.

For the modernisation of tax administration, the loan is 52 million, for the improvement of the E-government 50 and the development of trade and transports relief in the Western Balkans 40 million dollars.

The later will be realised in two phases in the next five years, Mali has said, and the first phase will involve Albania, North Macedonia and Serbia.

Cyril Muller, the World Bank’s Europe and Central Asia region Vice President was also present during the signing, together with the Tax Administration head Dragana Markovic.

 The Finance Ministry said Muller and Mali met before the signing adding the WB Vice President praised Serbia’s macro-economic results.

In the meantime, Zorana Mihajlovic, Serbia’s Minister of Construction, Infrastructure and Transport, also met with Muller whom with she discussed the strategy of road and railway transport in Serbia, cooperation on big infrastructural projects and regional integration.