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April 23, 2003 - Wednesday |
World Bank approves loan for social welfare overhaul
BELGRADE – The World Bank has approved a loan of eighty million dollars to support reforms of Serbia’s social welfare system.
The bank’s Belgrade office said this morning that the loan was to be interest free, with a charge of 0.75 per cent for administrative expenses.
The loan, which is to be paid in two installments, is aimed at increasing the transparency of spending taxpayers’ money for social welfare.
It is also intended to assist the Serbian government’s reforms in social welfare, employment and health, said the bank.
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