CROATIA
Regional Launch of Economic Recovery Project in Zadar
A regional launch workshop for the Croatia Social and Economic Recovery Project was held on July 25 in Zadar, one of the Project’s three regional coordination units. Zadar marked the first regional launch, which was followed by the Sisak launch on July 27. The third regional launch will be held in Djakovo in mid-September. This €60 million project become effective in September 2005 and is being implemented by the Ministry of Sea, Tourism, Transport and Development. Its objective is to support the economic and social revitalization of disadvantaged and war-affected areas to increase social cohesion, which is in line with the Government’s EU integration agenda. The project will cover 13 counties within the “Areas of Special State Concern.”
KAZAKHSTAN
Small Grants Program Winners Announced
The World Bank and Eurasia Foundation announced the results of the joint Small Grants Program on July 27. This year, Eurasia Foundation provided US$15,000 for the Program, and an agreement was signed to continue joint funding in the future. The 2006 Program is supporting 10 projects for a total of $50,000. The World Bank funded 7 of the 10 winning projects.
KYRGYZ REPUBLIC
World Bank Supports Entrepreneurship and Trade in the Kyrgyz Republic
The Board approved a grant for US$5 million for the Reducing Technical Barriers for Entrepreneurship and Trade Project for the Kyrgyz Republic on July 13. The grant will complement ongoing donor programs and help the Kyrgyz Republic to harmonize domestic standards with international ones, and establish a reliable infrastructure for Metrology, Standards, Testing and Quality. The Project will help stimulate private sector-led growth and exports by streamlining the compulsory standards requirements for business to improve the overall business environment, developing systems to enhance product quality and safety, and increasing enterprise competitiveness in pilot sectors. The cost of regulatory compliance for businesses should decrease, and the share of non-gold trade with existing WTO partners should increase. Click here for the press release.
ROMANIA
World Bank Helping Romania in Municipal Services Sector
The loan agreement for the Municipal Services Project was signed on July 24 at the Government’s office. The project will help Romania meet EU environmental directives in the water and wastewater sectors by preparing projects for at least 11 counties for funding by the European Union, and for infrastructure development in the municipalities of Bucharest and Arad. The loan agreement was signed by Minister of Finance Sebastian Vladescu and Country Director Anand Seth. The project will allow these sectors to better benefit from Structural and Cohesion funds in the post-accession period. Click here for the press release.
RUSSIA
World Bank President Attends G8 Meetings
President Paul Wolfowitz visited Russia to attend the G8 Summit in St. Petersburg on July 16-17. Mr. Wolfowitz met with leaders of the G8, other countries, and international organizations to discuss global energy security, modern education systems, and infectious diseases, as well as globalization, international trade, and Africa. Paul Wolfowitz stated that Africa could benefit from increased aid, specifically to improve education, and needs to address the “crying need for infrastructure” across the region. Click here for the World Bank G8 website.
Preliminary Findings of Russia ICA Presented in Moscow
A World Bank team led by Itzhak Goldberg visited Russia in mid-June to present the preliminary findings of the Russia Investment Climate and Competitiveness Report to a wide audience. Activities included a workshop for academics and the private sector, presentations to the Ministry of Economic Development and Trade, as well as a presentation by Itzhak Goldberg at the 10th St. Petersburg International Economic Forum, on a panel with Minister of Finance Kudrin and Minister of Economic Development and Trade Gref. The Russia ICA will help improve the investment climate in Russia and increase firms’ competitiveness in domestic and global markets. The report analyzes productivity trends in Russia and some of the factors shaping productivity at the firm level in Russia today, such as labor skills, innovative activity, and the general business environment.
TAJIKISTAN
World Bank Supports Reform Program in Tajikistan
The World Bank’s Board approved on July 6 a $10 million Programmatic Development Policy Grant for Tajikistan and a complementary Public Sector Reform Project. The grant is the first programmatic operation of the Bank in Tajikistan to support the government’s medium-term reform program outlined in the PRSP. It supports a strategic set of policy reforms to promote private sector development by improving the investment climate and strengthening the regulatory framework in key strategic sectors; and improving public sector management and social service delivery in health and education. The policy measures supported by this operation have a strong cross-cutting emphasis on improving governance. The financing agreements for the grant and project, as well as for the Avian Influenza and Human Pandemic Preparedness and Response Project, were signed on July 27.
TURKEY
World Bank Supports Strengthening of Public Sector in Turkey
The World Bank and the Government of Turkey signed a €403 million Programmatic Public Sector Development Policy Loan for Turkey on July 7. The first component of the Loan will support the maintenance of the macroeconomic framework that has underpinned Turkey’s recovery since the 2001 financial crisis, as well as the ongoing sustained economic growth that began in 2002 and continues to date. The second component will focus on improving the quality of fiscal adjustment by addressing the growing deficits in the social security system. The third component will support the continued implementation and broadening of the structural and institutional reforms of the public financial management and budget systems. The fourth and last component will support improving the administration and governance of the public sector.
UKRAINE
World Bank Supports Export Growth in Ukraine
The World Bank’s Board of Directors approved on July 27 a US$154.5 million loan for the Second Export Development Project. The project will support export and real sector growth in Ukraine by providing medium and long-term working capital and investment finance to Ukrainian private exporting enterprises. The project also aims to further improve the ability of the Ukrainian banking sector to provide financial resources to the enterprise sector through additional development of financial intermediation by providing a wider variety of better quality lending products. Click here for the press release.
UZBEKISTAN World Bank Continues Engagement in Uzbekistan
The World Bank’s Board of Directors discussed on July 27 an Interim Strategy Note for Uzbekistan and expressed broad support for the World Bank’s continued engagement in the country. The new strategy, which covers a 12 to 15 month period, combines technical assistance and analytical and advisory services with lending focused on global public goods and basic social services. Click here for the press release.
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