ZAGREB, Oct 22 (Hina) - The World Bank on Tuesday approved the payment to Croatia of a second, US$100-million instalment of a Structural Adjustment Loan, confirming that Croatia has successfully completed its structural adjustment
programme, the World Bank Zagreb Office said in a statement on Wednesday.
ZAGREB, Oct 22 (Hina) - The World Bank on Tuesday approved the
payment to Croatia of a second, US$100-million instalment of a
Structural Adjustment Loan, confirming that Croatia has
successfully completed its structural adjustment programme, the
World Bank Zagreb Office said in a statement on Wednesday. #L#
The successful completion of the programme, which was financially
assisted by the World Bank, is a major achievement and a sign of
constant progress in the modernisation of the economy and the
process of drawing closer to European associations, the statement
said.
On 4 December 2001 the World Bank's board of executive directors
granted Croatia a US$202-million loan, to be drawn in two
instalments, with a payment deadline of 15 years, a five-year grace
and an interest rate of only 2.4 percent.
Since Croatia joined the World Bank in 1993, the Bank has financed
22 projects with loans totalling some US$1.2 billion, of which 700
million has been drawn. At the same time, Croatia was awarded
numerous donations and provided with technical and advisory
assistance.
(hina) rml