World Bank grants $100 million loan for Serbia’s poor

World Bank grants $100 million loan for Serbia’s poor
# 29 April 2011 14:58 (UTC +04:00)
Bakı - APA-Economics. The World Bank said Friday it had granted Serbia a $100 million loan that will be used to help the Balkan country’s low income households.

The loan will support implementation of Serbia’s new social welfare law, adopted in March, the Beta news agency quoted a statement from the bank as saying.

It would notably help triple the amount of cash benefits for the poor families with more than three members, it added.

Around 10% of Serbia’s population of about 7 million lives below the poverty threshold, Labor Minister Rasim Ljajic warned recently.

Serbia’s unemployment rate stands at 19.2% while inflation reached 10.3% last year, according to official figures.
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