ZAGREB, May 13 (Hina) - Croatia, a World Bank member since 1993, has been implementing 18 projects in cooperation with the World Bank. The value of these projects, depending on the currency in which they have been granted, amounts to
USD 376.9 million, EUR 100.2 million and DEM 514.2 million. According to the Finance Ministry's monthly bulletin 'Riznica', since 1994 Croatia and the World Bank have signed contracts on 14 long-term loans, advance on one loan (for preparations for the pension system reform) and two guarantees (a loan to the Croatian Reconstruction and Development Bank for municipal infrastructure and environmental protection in Split and a loan to commercial banks). The projects also include a project the Istrian Water Management agreed with the World Bank in 1993. Other contracts Croatia has been implementing include loans for reconstruction, health, roads, the private farming sector, capital market developm
ZAGREB, May 13 (Hina) - Croatia, a World Bank member since 1993, has
been implementing 18 projects in cooperation with the World Bank.
The value of these projects, depending on the currency in which they
have been granted, amounts to USD 376.9 million, EUR 100.2 million
and DEM 514.2 million.
According to the Finance Ministry's monthly bulletin 'Riznica',
since 1994 Croatia and the World Bank have signed contracts on 14
long-term loans, advance on one loan (for preparations for the
pension system reform) and two guarantees (a loan to the Croatian
Reconstruction and Development Bank for municipal infrastructure
and environmental protection in Split and a loan to commercial
banks). The projects also include a project the Istrian Water
Management agreed with the World Bank in 1993.
Other contracts Croatia has been implementing include loans for
reconstruction, health, roads, the private farming sector, capital
market development, demining, railways, the reforestation of
coastal areas, an Enterprise and Financial Adjustment Loan, and a
project for facilitating trade and transport in South-East
Europe.
On the last day of last year, USD 55 of USD 376.9 million, EUR 85.9
million of 100.2 million and DEM 250.1 million of 514.2 million
worth of loans was not used yet.
The Ministry reminds that in late April this year talks were wrapped
up on a loan for technical assistance in bankruptcy proceedings
(worth five million dollars) and that preparations for a structural
adjustment loan (SAL) are underway. The loan will be an addition to
IMF's stand-by arrangement and is intended for economic revival and
the opening of new jobs. It has also been announced that the World
Bank will draw up a study on public spending this year.
Since 1995, the World Bank has given Croatia 22 deeds of donation,
non-repayable funds intended primarily for the financing of
consultants and the drawing up of studies needed for projects to be
financed with World Bank loans. On December 31, 2000, non-repayable
aid amounted to USD 5.8 million and 241.4 million yen. The aid is
intended for agriculture, environmental protection, the
development of the private sector, the adjustment of the public
sector, the restructuring of the Croatian Railway, the
modernisation of the Rijeka port, health, etc. Along with these
donations, the World Bank last year gave a deed of donation worth
one million US dollars for the return of refugees to Zadar and
Sibenik-Knin counties.
The Finance Ministry has announced new projects in cooperation with
the World Bank in 2002 and 2003, including loans for the
modernisation of the land register, the Rijeka port, the reform of
the welfare system, road maintenance and demining. The World Bank
is expected to provide technical assistance in the drawing up of
studies on export stimulation, the financing of the health system,
the modernisation of the state administration and the prevention of
corruption.
Late this year, the Global Fund for Environment is expected to give
Croatia a donation worth five million dollars for the protection of
karst ecosystems, which is the most valuable donation so far.
(hina) rml