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World Bank approves 183mn for development policy - Serbia Business

World Bank approves 183mn for development policy

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The World Bank Board of Executive Directors has approved a 182.6 million euro development policy loan to Serbia.

The loan will support the government in improving its management of public expenditure and making energy and transport public utilities more efficient and financially sustainable, Tanjug said, quoting a statement issued by the financial institution.

“The First Public Expenditure and Public Utilities Development Policy Loan – the first in a proposed series of two operations – supports the government of Serbia’s multi-year effort to raise the efficiency and effectiveness of public spending and transform the energy and transport sectors. These reforms are important strategic objectives in the context of Serbia’s EU accession process,” the statement said.