WORLD BANK REGIONAL OFFICE IN ZAGREB TO HELP CROATIA ACCESS EU

ZAGREB, March 22 (Hina) - The regional office the World Bank is opening in Zagreb to cover Croatia, Romania, and Bulgaria as of this autumn indicates that this financial institution recognises the importance the three countries have for Europe, the head of the new office, Andrew Vorkink, said in Washington on Thursday. Vorkink held a video-link conversation with Croatian Finance Minister Mato Crkvenac and reporters in Zagreb. Crkvenac applauded the opening of the regional office for Southeast Europe as an important and more direct World Bank incentive to reforms in Croatia. The minister announced the World Bank would accompany a stand-by credit the International Monetary Fund approved for Croatia this week with a $200 million loan for structural adjustment and to encourage employment in small and medium-sized businesses. By basing the regional office in Zagreb, according to Crkvenac, the World Bank is showing it has started viewing Croatia not only as a country in transition but increasingly more as a partner country. Vorkink said the World Bank was taking note of the strong and positive trends in Croatia's economic policy and economy. The criterion applied in uniting Croatia, Romania, and Bulgaria into one regional office was the fact that the three countries share many common issues in connection with European integration, said Vorkink. He added the Zagreb office would provide an opportunity to exchange information on access to the European Union and on reforms. The International Financial Corporation, which finances private sector projects in developing countries, also plans to open a regional office in Zagreb in the middle of the year to cover countries of the western Balkans. (hina) ha