According to previous statements by World Bank representatives, the Board of Directors should decide on February 27 whether to grant Serbia the USD 250 million worth of loan as budget support. Serbia could make use of the funds as soon as the parliament ratifies the agreement. In early December, Director of the World Bank Office in Serbia Tony Verheijen said that the condition for the loan to be granted was the adoption of the budget, privatisation law, bankruptcy law and law on construction permits. On December 30 , the Serbian government adopted the draft law on privatization and the amendments to the Bankruptcy Law and forwarded the document to the parliament for adoption on urgent procedure. The laws are the grounds for the beginning of work of the Transition Fund which envisages that RSD 20 billion should be transferred as payment of overdue salaries and ensuring uninterrupted years of service for employees, as well as redundancy pay for employees in restructuring companies.
Most Popular Stories
- India Recognizes Transgender People as 'Third Gender'
- Grand Jury Seated in Rick Perry Ethics Case
- U.S. Homebuilder Confidence Edged Up in April
- Alfonso Wins Executive of the Year Award
- The 420 on the Hemp Products Giveaway
- German Firm Starts Gas Deliveries to Ukraine
- Five Secrets for Keeping a Job
- Study: Casual Marijuana Use May Cause Brain Changes
- Coca-Cola Soda Sales Lose Pop
- Miami Attorney Being Honored for Charity Work