World Bank approves Serbia a loan of USD 300 m for rehabilitation from floods.

(Photo: vs.rs)

October 3 the World Bank approved Serbia a loan of USD 300 m for rehabilitation from floods.

As it was announced at the website of the World Bank, the loan was approved on 30 years with a grace period of 18 years. The interest rate for the loan repayment will vary throughout the payment time and it totals 1,5% at the moment.

The loan shall be used for rehabilitation of electrical and energy system as well as for the support to farmers and entrepreneurs.

The Head of the World Bank in Serbia, Tony Verheijen, has recently said that the 150 m of the loan will be used for import and 50 m for the rehabilitation of the electrical and energy facilities and water pump down of the Tamnava pit mine.

Verheijen said that farmers will get seven million dollars as well as that 22m will of be used for rehabilitation the flood protection system.