Business: Macedonian agriculture gets a boost from World Bank
The Bank is loaning 15m euros for a project aimed at improving government assistance to the sector. Also this week: Albania ratifies the Burgas-Vlore pipeline deal.
The World Bank approved a 15m euro loan Tuesday (June 12th) for the Agriculture Strengthening and Accession Project in Macedonia. The project aims to improve government assistance to the agriculture sector, in accordance with EU pre-accession requirements.
The Albanian government ratified February's trilateral agreement with Bulgaria and Macedonia on construction of the Burgas-Vlore regional pipeline. The 1.2 billion-euro project will be run by the US-based company AMBO. The 870km long pipeline is intended to carry Caspian oil from the Black Sea to the Adriatic. Its launch is planned for 2010.
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The World Bank approved on Tuesday (June 12th) a four-year Country Partnership Strategy for Montenegro. It is the first programme of this kind for the Balkan state since it gained independence in 2006 and joined the Bank in January 2007. Some 68m euros in financial assistance is planned.
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Representatives of the Croatian government and the World Bank signed an agreement on a 150m-euro Second Programmatic Adjustment Loan for Croatia. The credit is designated to support public administration and various structural reforms. The money will be made available in two tranches.
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Romania's Authority for State Assets Recovery (AVAS) announced on Tuesday (June12th) that it selected the Saudi Arab company Al Arab Contracting as the preferred candidate buyer for a 62.82% stake in the Romanian electric engine and locomotive producer Electroputere Craiova. According to an AVAS press release, Al Arab Contracting submitted the best offer out of five bidders.
Source: SETimes
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