World Bank allocates USD 100 mln. to Serbia

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World Bank allocates USD 100 mln. to Serbia

10-05-2011 17:15

World Bank allocates USD 100 mln. to Serbia

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World Bank allocates USD 100 mln. to Serbia

Serbia will have a USD 100 mln. loan from the World Bank within the framework of the programme of supporting low-income families. This information was revealed by Agence France-Presse on April29. The loan will be spent on funding the bill passed in March this year on rendering assistance to low-income families. The provided sum will triple the volume of the financial assistance offered to families comprising over three members. At present about 700 thousands of Serbians are below the poverty line which is one tenth of the whole population. The unemployment rate is equal to 19%. In 2010 Serbia got a USD 200 mln. loan from Russia. Moreover, in mid April of 2011 a preliminary agreement on a USD 800 mln. for development of the railroad system was made. According to Bloomberg, Serbia has been negotiating with the IMF regarding another loan.

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