Serbia And Montenegro: Social Sector Adjustment Credit

TERMS:  Grace period = 10 years; Maturity = 20 years

PROJECT DESCRIPTION:  This project will help the Serbian Government implement changes in social protection, labor and health, which are expected to lead to more fiscally sustainable programs, while continuing to provide core benefits and services to the population, in particular those most vulnerable.  The two overarching objectives of the reforms are: a) to reduce short and medium term fiscal pressure through a combination of entitlement reform and efficiency improvements in the social sectors; and b) maximize the poverty alleviation impact of public spending through improved targeting and sustained access for the poor to cash benefits and services, including health and social welfare.  For more information, please call Merrell Tuck-Primdahl at (202) 473.9516 or e-mail Mtuckprimdahl@worldbank.org.