"The World Bank today approved a US$40 million loan for a Social Welfare Development Project for Croatia. This project will strengthen the quality, targeting and administration of social benefits and services to those most in need. It supports the Government's National Program for the Reduction of Poverty," reads a press release issued by the World Bank on Tuesday.
"This project will assist in the development of a social welfare system that cares about the most vulnerable members of Croatian Society and assists them to cope with the difficulties of everyday life," Anand K. Seth, World Bank Country Director for Bulgaria, Croatia and Romania, was quoted as saying.
The loan has a maturity of 15 years, including a five-year grace period.
"It will support the efficient administration of the social benefits system, including targeting the very poorest to receive available resources, reducing the risk of exclusion by making benefits easier to understand and easier to claim, and reducing the risk of inclusion errors by improving the information system," the press release said.
"The project is designed to enhance the efficiency and quality of social service delivery to better respond to client needs through the development and implementation of a set of organizational, administrative and financial mechanisms," the press release said, among other things.
I