Agreement on EUR 3.4 million grant signed with World Bank

Serbia and the World Bank on Thursday signed an agreement on a EUR 3.4 million grant for the country’s corporate financial reporting reform.

The agreement was signed at the Serbian Ministry of Finance by Finance Minister Dusan Vujovic and Ellen Goldstein, the World Bank’s country director for the Western Balkans.

It is a grant secured by Switzerland through its State Secretariat for Economic Affairs (SECO), which is already supporting the tax administration and financial reform adviser, Vujovic told Tanjug.

“Now it will also support capacity-building in financial control in Serbia, which is crucial for us because the first chapter we opened in the EU talks deals with that, and this is also the condition for countries to entrust us with confidence with managing funds,” he said.

The grant is aimed at helping Serbia improve its accounting and financial reporting standards and ensure more transparent transactions, said Tony Verheijen, the World Bank country manager for Serbia.

The signing of the agreement was also attended by Swiss Ambassador Jean-Daniel Ruch.

Source: Tanjug