Yugoslavia: Private And Financial Sector Adjustment Credit

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

CREDIT AMOUNT: US$85 million
TERMS: Grace period = 10 years; Maturity = 20 years
PROJECT DESCRIPTION: The project aims to support the government of FRY and its larger constituent government, the Republic of Serbia, to develop a sound financial system and promote real sector growth. Recognizing the importance of addressing the linkages between banking and enterprise sector reforms, the PFSAC will support policies which facilitate resolution of non-performing loans held by banks and the privatization of indebted enterprises. For more information, please call Gina Ciagne at (202) 458.4166, fax at 522.3362, or e-mail Gciagne@worldbank.org.