Government of Japan aids development of private and financial sector in Serbia with additional 800,000 USD

Minister of International Economic Relations of SCG, Predrag Ivanović, and Head of the Office of the World Bank to SCG, Caroline Yung, have signed the agreement on donation of the Japanese Government for development of private and financial sector in Serbia.

As Ivanović pointed out, it is the donation worth 800,000 USD and it is intended for stimulation of employment and continuation of reforms in private and financial sector.

He added that, so far, State Union of SCG had had very intensive cooperation with the World Bank and the Government of Japan, which was proved by the fact that total of 36 donations had been approved, 11 of which were donations from Japan.

Ambassador of Japan, Tadashi Nagai, pointed out that SCG had received over 8 million USD through the Fund of Japan in the World Bank.

According to his words, the aim of the latest donation of Japan is to offer technical assistance in the improvement of fiscal management, business climate and stabilization of financial sector, because, as he said, "the Government of Japan believes that the restructuring of those sectors is necessary for Serbia and Montenegro".