Federal Republic of Yugoslavia: Structural Adjustment (SAC)

The following project was approved today by the World Bank's Board.

LOAN AMOUNT: IBRD—US$70 million
TERMS: Grace Period = 10 years, Maturity = 20 years
PROJECT DESCRIPTION: The project will support the government of FRY and its larger constituent government, the Republic of Serbia, to reduce poverty and promote sustained growth. The SAC supports reforms that are particularly crucial for addressing risks to the Serbian budget and, therefore, to macroeconomic stability and the transition to a market economy. The project consists of three pillars: (a) strengthening public expenditure management; (b) energy sector reform; and (c) social sector reform, in particular pensions, labor markets, and health. For more information, please call Gina Ciagne at (202) 458.4166, fax at 522.3362, or e-mail Gciagne@worldbank.org.