Overview

On May 8, 2001, the Federal Republic of Yugoslavia (FRY - later Serbia and Montenegro) succeeded to the membership of the former Socialist Federal Republic of Yugoslavia. At that time, the World Bank's Executive Directors approved its temporary eligibility to receive interest-free credits from the International Development Association (IDA) the World Bank's concessional lending arm.

After the referendum on independence in Montenegro on May 21, 2006, two republics became two independent states. The Republic of Serbia continues the membership of Serbia and Montenegro in the IMF and the World Bank Group. 

World Bank Support

The World Bank’s program in Serbia and Montenegro was guided by the Transition Support Strategy (TSS) adopted in June, 2001 and updated in July 2002 and February 2004. Transition Support Strategies defines the World Bank's activities in post-conflict countries.

As Serbia and Montenegro emerged from the post conflict phase, the World Bank prepared its first full three-year participatory Country Assistance Strategy (CAS) covering fiscal 2005-07 jointly with the International Finance Corporation (IFC). The CAS was approved by the World Bank's Board in December 2004.

The strategic objectives of the World Bank's program in Serbia and Montenegro are restoring macroeconomic stability and external balance; stimulating near-term growth and creating the basis for a sustainable supply response; improving social well-being of the most vulnerable and building human capacity and good governance and building effective institutions. 

-More on the Transition Support Strategy
-More on the Country Assistance Strategy for Serbia and Montenegro
-More on Serbia and Montenegro's Poverty Reduction Strategy

Credits and Grants

By June 30, 2006 the World Bank has committed US$764 million in grants and IDA credits for 32 projects in Serbia and Montenegro. 

The World Bank's current portfolio in Serbia and Montenegro comprises of 19 active projects.

Active projects include investments in education, health, environment, trade facilitation, labor market reform, export finance and the energy sector. There are also two ongoing adjustment credit operations in private and financial sector reform and in social protection.

Grants support reforms in the private and financial sectors, court administration, energy sector, as well as improvements in environment and social protection.

More on Credits and Grants for Serbia and Montenegro

Analytical and Advisory Services

An essential part of the World Bank's contribution to development efforts in Serbia and Montenegro is its analysis and advice. The World Bank's store of development knowledge, research, and technical assistance help identify priority areas and address development challenges.

Examples include reports on agriculture, energy, environment, poverty profiles and a fiscal sustainability assessment. The World Bank has also assisted with the preparation of the Government's Poverty Reduction Strategy.

Read Reports on Serbia and Montenegro