Washington, 10th October 2010 (MIA) – World Bank, with at least EUR 150 million, will support projects in the field of energy in Macedonia in the next three years, Vice Prime Minister and Minister of Finance, Zoran Stavreski said following the meeting with the World Bank Vice President Philip Le Houerou and Country Director and Regional Coordinator for Southwest Europe Jane Armitage in Washington, MIA reported.


– Today we agreed to finance energy projects in the first year, such as long-distance power-line from Stip to Nis and for budget support for Macedonia, reflecting WB assessments of the policies we implement as good ones There will be also one small project for insurance against climate changes, floods and similar, which so far has been a problem as regards insurance of farmers. WB has a new project, i.e. it has designed new instrument to contribute to insuring properties, Stavreski said, heading the Macedonian delegation at IMF and WB Annual Meeting in Washington.


He added that it is also expected for the Construction of Accumulation Lukovo Pole Project, in the energy sector, to be prepared in the coming period.


– We requested and WB responded positively as regards accelerating and increasing the number of energy projects, since it is one of the key areas for Macedonia and its development. I am also satisfied that the Bank confirmed its participation in these Projects together with the Government of the Republic of Macedonia, Stavreski said.


According to Vice Prime Minister in charge of Economic Affairs Vladimir Pesevski, in addition to energy projects, WB, through the International Financial Corporation, will support a project for preparation of pilot study for green sustainable development of Macedonia, thus making it the first country in the region to prepare such study.


– World Bank as a result of the commitment of Macedonia and its Government to these Projects, has decided to implement this Project in Macedonia, thus making us leaders in this area, Pesevski pointed out. During the talks with the International Financial Corporation (IFC), which stated that it significantly strengthened its presence with its advisory role in Macedonia for a number of projects in the past year, also announced larger investments in the private sector.


– We expect for three to four new projects to be approved by IFC next year, not aimed at supporting the country bur rather the private sector, which will certainly be a driving force for the development of Macedonia, Pesevski said.


Today, Macedonian delegation in Washington also met Deputy Managing Director of the IMF Naoyuki Shinohara, to be followed by talks with Ruud Treffers WB Executive Director.


Yesterday in Washington, Vice Prime Minister Stavreski also met the IMF Executive Director Mr. Age F.P. Bakker and Raphaël Alomar Governor of the Council of Europe Development Bank.


Two-day WB/IMF Annual Meetings, attended by around 10,000 representatives from the Central Banks, Ministers of Finance, Executive Directors from the private sector and experts from 187 member states were concluded today.


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