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World Bank Has $340 Million for Serbia, Will Add More If Needed

The World Bank will make available $340 million for Serbia in the next two years and add $200 million in budget support in case the country is hit by euro-area turbulence.

The funds are part of the lender’s four-year Country Partnership Strategy, representing its commitment to support Serbian efforts to strengthen competitiveness and improve the efficiency of social spending, it said in an e-mail today.

The bank’s private sector lending arm, the International Finance Corporation, or IFC, will make available a further $600 million to $800 million for the Balkan country’s private sector through 2015, the World Bank said.

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