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LOANS & CREDITS March 20, 2018

State Owned Financial Institutions Reform Project

WASHINGTON, March 20, 2018 – The World Bank’s Board of Executive Directors today approved the following project:

State Owned Financial Institutions Reform Project

Amount: €40.1 million

Grace period: 5 years

Maturity: 15 years

Project objective is to improve the performance of Banka Postanska Stedionica AD Beograd and promote the reform of Development Finance Institutions and Other State-Owned Financial Institutions.

The project aims to support the reform of SOFIs by contributing to the government’s reform program through executing a strategy for SOFIs that decreases fiscal costs, minimizes the potential for soft budget support to SOEs, improves the performance of those institutions that the government chose to retain, supports the divestiture of all others, and develops a strategy for development finance and further NPL resolution.

For more information about this project, please see here: https://projects.worldbank.org/P156837?lang=en

Contact:

Kym Smithies

+1 (646) 407-8629

ksmithies@worldbank.org


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