ZAGREB, May 16 (Hina) - The World Bank and the Croatian government are holding talks about a Programmatic Adjustment Loan (PAL), a new programme whereby the world body is backing state and public sector reforms, the government said on
Friday.
ZAGREB, May 16 (Hina) - The World Bank and the Croatian government
are holding talks about a Programmatic Adjustment Loan (PAL), a new
programme whereby the world body is backing state and public sector
reforms, the government said on Friday. #L#
PAL constitutes the World Bank's support to reforms in health,
education, justice, and state administration. Its purpose is to
step up their efficiency and adaptation to European Union
standards.
Sources close to the government have said plans envisage defining
PAL within the next two months so that an agreement may be signed in
September or October.
The amount of money Croatia would get through PAL is not known at
present. The programme would be implemented over a four- to five-
year period.
The government is working on several bills, such as amendments to
laws on labour, bankruptcy, and companies, which are required to
draw the second instalment of the Structural Adjustment Loan.
This US$102 million instalment should have been drawn in early
April. It was postponed to August 1 due to Croatia's failure to
adopt all structural laws envisaged.
(hina) ha sb