World Bank Country

The World Bank has said it is providing $400 million in financing to help women and youth access jobs and economic opportunities being created by the green transition in Türkiye.

A new World Bank project will help avert the closure and maintain employment in viable micro, small and medium enterprises (MSMEs) affected by the economic shocks of the earthquakes that hit southeastern Türkiye.

The $450 million project's objective is to support business continuity and sustainable growth of viable MSMEs in the 11 earthquake-hit provinces.

BELGRADE - Serbian PM Ana Brnabic met with World Bank representatives for the Western Balkans on Wednesday.

The parties noted that Serbia was seeing major economic success and that it had registered GDP growth of 9 pct over the past four years - three times the GDP growth in the EU and above the level of economic growth in the region, the Serbian government said in a statement.

BELGRADE - The World Bank forecasts Serbia's GDP growth to be 2.3 pct in 2023 and 3-4 pct in the next two years.

Speaking at a presentation of the World Bank Regular Economic Report for the Western Balkans, World Bank Country Manager for Serbia Nicola Pontara said 2023 GDP growth in the region was projected at 2.6 pct.

WASHINGTON - The World Bank Board of Executive Directors approved on Friday a 27.7 mln euro loan to support Serbia in its effort to deepen and further develop its capital markets with a Catalysing Long Term Finance Through Capital Markets Project.

The World Bank said on July 15 that it extended financing worth $1.5 billion for five critical development projects during Fiscal Year 2021. 

Recalling that the country fought the impacts of COVID-19, the bank said the financial support contributed to the implementation of Turkey's 11th National Development Plan as laid out in the Bank's Country Partnership Framework.

Minister of Finance Alexandru Nazare and World Bank Country Manager for Romania and Hungary in the Europe and Central Asia Region Tatiana Proskuryakova signed today in Bucharest the loan agreement for the additional 150 million euro funding aimed at supporting the health reform project - improving the quality and efficiency of the health system, a press release of the Finance Ministry informs.

The World Bank's Board of Executive Directors has approved a partial credit guarantee in the amount of 250 million euros (around $273 million) to the Export Credit Bank of Turkey (Türk Eximbank) as part of the Turkey Long-Term Export Finance Guarantee Project, according to a statement.

The World Bank Group's Board of Executive Directors has decided to extend the current partnership program by two years to align with Turkey's 11th Development Program for the 2019-2023 period and its New Economic Program which sets out the longer-term structural reforms to be pursued to address the country's development challenges.

Maintaining the macroeconomic stability and fully implementing the reforms required to tackle the basic structural deficiencies of the Serbian economy will be the main challenge for the economic policy, says Sebastian Sosa, head of the IMF Office in Serbia.