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World Bank approves $1.8 bln lending to Croatia

  The World Bank on Tuesday approved a new four-year $1.8 billion lending program for Croatia to support the country’s quest for EU accession.


The new Country Partnership Strategy lays out cooperation between the World Bank and Croatia between 2009 to 2012. The strategy will focus on sustaining economic stability in Croatia, strengthening private sector-led growth, improving social sectors and helping the country deal with climate change, the World Bank said.

“Croatia has made tremendous political and economic progress over the past 15 years,” said Orsalia Kalantzopoulos, World Bank country director for Croatia. Incomes doubled, economic and social opportunities have dramatically improved, and Croatia’s EU membership is within reach. If needed reforms are implemented, Croatia has the opportunity to rapidly reduce the income gap vis-a-vis the EU member states.” (Reuters)