World Bank to grant financial aid of at least $155 million to Macedonia - FinMin

The World Bank (WB) will provide financial support for Macedonia in 2011 and in the next couple years in amount of $155 million for carrying out several major projects. The International Monetary Fund (IMF) and WB have assessed Macedonia as a country with solid economic policies. Results achieved in terms of GDP growth, increase of foreign direct investments and positive export growth are the key three things that have been praised, Zoran Stavreski said.

The Deputy PM and Finance Minister is leading a delegation to the annual meetings of the IMF and World Bank.

He noted that the World Bank would endorse projects related to the energy sector in Macedonia.

"In the course of 2012, the "Lukovo Pole Dam" project, funded by WB, will be launched. A project on construction of a long-distance power line linking Stip and Nis (Serbia) is expected to be kicked off by year's end. Moreover, funds will be allocated for infrastructure projects for municipalities - a project through which dozens of municipalities in Macedonia, especially in poverty-stricken regions, will receive finances to implement investment projects," Vice PM Stavreski stressed.

I also expect, he added, the World Bank to grant finances for education in a bid to improve the quality of education and to qualify a workforce, which is one of the key elements in improving the competitiveness of Macedonia's economy. All in all, we are talking about a serious package in amount of at least $155 million for the next two years.

IMF and WB top officials at the annual autumn meetings assessed Macedonia as a country with solid economic policies.

"Results achieved in terms of GDP growth, increase of foreign direct investments and high export growth are the three key things highly praised by the IMF and WB missions to Macedonia, Stavreski stated.

 The Macedonian delegation on Saturday is meeting with bank officials and representatives of the International Finance Corporation and WB.
 

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