INTERNATIONAL FINANCE CORP INVESTS IN RECONSTRUCTION OF BELISCE

( Editorial: --> 2027 ) BELISCE, March 24 (Hina) - General manager of the Belisce paper packaging company in eastern Croatia, Josip Lucic, and the International Finance Corporation's European sector manager Harold Rosen signed an agreement on Tuesday on the company's reconstruction. The agreement was co-signed by general manager of the Zagreb bank Privredna banka, Bozo Prka. Also present at the signing of the agreements worth US$42.2 million was Croatian Prime Minister Zlatko Matesa. After the signing Rosen stressed the IFC had been co-operating with Belisce for 25 years and would help it to reconstruct and modernise its production. Matesa described the agreement as important for further development, not only of Belisce but for the entire area. He congratulated the management on reconstruction of that large factory, calling it "a new chapter in business philosophy, which should be emulated by others". Matesa also announced invitation of tenders in May for construction of a bridge over the Drava River near the town of Belisce, which he said would boost development of the area. (Hina) mm mr /mb 242125 MET mar 98