Brefort: Serbia is using onl;y one quarter of World Bank funds
16. April 2011. | 08:23
Source: Tanjug
Head of the World Bank Office in Serbia Loup Brefort stated on Thursday that Serbia is rather slow when it comes to implementation of funds the international financial institution granted and is currently using only a quarter of the total sum at its disposal.
Head of the World Bank Office in Serbia Loup Brefort stated on Thursday that Serbia is rather slow when it comes to implementation of funds the international financial institution granted and is currently using only a quarter of the total sum at its disposal.
Compared to other European and central Asian countries, Serbia has one of the lowest levels of utilization of available resources, Brefort said in a broadcast by Television B 92.
The World Bank set aside some EUR 850 million which the government said were important but as much as EUR 620 million still have not been withdrawn, Brefort said and noted that project realisation in Serbia lasts from six to seven years instead of five to six.
Brefort pointed out that Serbia is on the verge of losing a donation worth EUR 600.000 because the country has not been able for some five weeks now to establish who has the authority to withdraw the funds from the World Bank and put them to use.
According to him, the main problem in the utilisation of the funds lies in extremely complicated procedures and cumbersome administration, and competent bodies are not working hard enough on solving these issues.
We will continue to perform advisory function for the government and recommend that it should be more efficient when it comes to using the funds because these projects can be beneficial for all citizens, Brefort said.
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