Serbia’s Ministry of Finance and World Bank have agreed a project that will allow Serbia to provide USD 400 million of commercial loans on international market, with a significantly lower interest rate and longer repayment period, the Ministry said in a statement.

Serbia is the third country the World Bank ever agreed such a warranty.

The project will enable Serbia to use the warranty in the future as an enhanced World Bank tool.

This kind of cooperation should allow quicker and easier approach to the commercial financial markets in time when foreign investors lessened their interest, the statement reads.

The warranty will come into force after it is approved by the World Bank’s Board of Directors and ratified by the Parliament of Serbia.