Serbia, World Bank agree on four-year USD 800mn deal.

By bne IntelliNews April 18, 2011
PM Mirko Cvetkovic and World Bank Managing Director Ngozi Okonjo-Iweala have agreed on a new four-year loan that will enable the country to draw USD 200mn per year, a statement on the government's website read. Serbia will also be able to receive additional funds, if necessary, the PM said. Serbia will use 50% of the WB funds to cover the budget gap, and the remainder will be earmarked for a variety of projects. Serbia still has USD 400mn worth of World Bank funding at its disposal for road infrastructure projects, the PM noted. Mirko Cvetkovic attended the spring meeting of the IMF and the World Bank in Washington.

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