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05. June 2002 |
Loan agreement signed with World Bank
BELGRADE, Tuesday – Deputy Federal Prime Minister Miroljub Labus and the World Bank’s representative in Belgrade, Rory O’Sullivan, today signed documents for an 85 million dollar loan.
The funds are intended for structural adjustments in the Serbian economy.
Labus told media after the signing that the fund would be released to Serbia’s treasury by the end of June, after the loan agreement had been ratified by the Federal Parliament.
The loan will be used to stimulate small and medium-sized business and rehabilitate the banking system, said the deputy prime minister.
O’Sullivan told media that the loan would lead to the creation of new jobs.
A similar loan of fifteen million dollars has been approved for Montenegro.
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