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19. July 2002 |
World Bank approves credit for setting up export agency of Serbia and Montenegro
BELGRADE - The World Bank has approved to Yugoslavia a credit worth 11.5 million dollars for setting up an export credit agency which should contribute to increased foreign trade and the revival of Yugoslav exports, the World Bank office in Belgrade said on Friday.
The founding of SMECA, the export credit agency of Serbia and Montenegro, will secure to Yugoslav exporters the necessary funds, insurance and technical assistance to restore some of their former markets and conquer new ones, the statement said. The agency will facilitate also purchases of the necessary equipment and raw materials for the Yugoslav industry, thus increasing the economic growth rate, the World Bank said.
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