World Bank approves $500 million for Serb budgets

Posted by 7Star Sunday, November 29, 2009

The World Bank agreed with Serbia on Friday a $500 million loan to back its 2009 and 2010 budgets, and the money will be disbursed right after parliament ratifies the loans. The funds comprise $200 million in budget support for 2009 and $300 million for Serbia's 2010 budget. Finance Minister Diana Dragutinovic told a news conference, adding that other conditions include reforms of budget controls and audit as well as sustainable fiscal policy.

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