Washington, 24th April 2010 (MIA) – Macedonia will be extended support from the World Bank for projects in the energy sector this year. Reforms in the Cadastre Agency, as well as social reforms, for which funds have been provided by this financial institution continue.


This, as it was announced by MIA reporter, is the conclusion of the meeting of Vice Prime Minister and Minister of Finance, Zoran Stavreski with the World Bank high officials, WB Netherlands Constituency Executive Director Rudolf Jan Treffers, Country Director and Regional Coordinator for Southwest Europe Jane Armitage and WB Vice President for Europe and Central Asia region Philippe Le Houérou in Washington.


Discussions are made about projects to be covered by the next four-year WB country partnership strategy with Macedonia. Amount of the credit line is still not defined, however, as Stavreski said, it will most probably range between EUR 40 and EUR 50 million annually.


– We asked for investment projects, especially in the energy sector. World Bank promised to extended support to Macedonia in the energy sector. One project has already been agreed for 2010 from MEPSO, project for construction of interconnection between Macedonia and Serbia. We also discussed second project in the field of energy, which to be realized in 2011/2012. It will most probably be construction of a hydropower plant which will be additionally discussed, Stavreski said after the meeting.


As regards social protection, as he added, the Conditional Cash Transfers Project will be realized, for families receiving social welfare. They will receive Denar 12,000 per year, being obliged for their children to attend secondary education. During the meeting with the IMF team, Minister Stavreski discussed future cooperation with IMF Chief of Mission for Macedonia Wes McGrew and IMF Executive Director Age Bakker.


– As regards IMF, it comes down to consultations regarding the policies and the mixture of monetary and fiscal policy. The advise is to complete the balanced approach, as for fiscal policy, through higher capital investments, to underpin economic growth in the post-crisis period, Stavreski pointed out. He presented the economic situation in Macedonia in front of the IMF and the World Bank management. At the same time, government polices and reforms in terms of whether Macedonia is moving in the right direction were discussed.


– It is good to hear that Macedonia is among the countries, most successfully coping with the crisis and that it shows best economic performance in relation to the other countries in Southeast Europe, Minister said. Vice Prime Minister Stavreski, during the Spring Meetings of the IMF and the World Bank, presented the business opportunities Macedonia offers in front of the American businessmen in the “Heritage" Foundation Headquarters.(MIA)


Comments are closed.