Serbia - All Projects

Private & Financial Sector Adjustment Credit 2 (PFSAC 2)

The Second Private and Financial Sector Adjustment Credit (PFSAC II) will support the governments Serbia and Montenegro, and its largest constituent member state, Serbia, in the implementation of regulatory, institutional, and structural reforms seeking to significantly accelerate private sector-led growth through: (i) improving the business environment by means of comprehensive reform of enterprise entry, operation and exit; (ii) strengthening the financial system by privatizing and / or liquidating majority state-owned banks and improving the environment under which banks and other financial intermediaries operate; and (iii) privatizing and restructuring socially-owned enterprises that crowd out private sector growth, hamper banking sector recovery, and incur significant fiscal and quasi-fiscal costs. Accordingly the project will be focused in the following areas: reform of business enabling environment, reform of financial sector regulatory and supervisory framework, banking sector reform, and enterprise sector reform. The credit will be a two tranche operation whose design incorporates the lessons from the implementation of PFSAC I, as well as from transition reforms in the Europe and Central A region during the past decade. The main benefit of the proposed credit will be the facilitation of faster private sector growth and job creation, supported by a healthier and more developed financial system.**

Last Updated September 04 2010

Basic Information
Project Status	Closed
Region	Europe And Central Asia
Country/Area	Serbia
Major Sector (Sector) (%)	Finance (Banking) (50%)
	Industry and trade (General industry and trade sector) (40%)
	Finance (Non-compulsory pensions, insurance and contractual savings) (10%)
Old Major Sector	N/A
Old Sector	N/A
Env Category	C
Project ID	P074868
Bank Team Lead (Last Name, First)	Goldberg, Itzhak
Approval Date	10-JUN-2003
Closing Date	31-DEC-2004
Borrower	GOVERNMENT OF SAM
Implementing Agency	GOVERNMENT OF SAM

Financial
Main Loan/Credit #	37800
IBRD Commitment *	0
IDA Commitment *	80
IBRD + IDA Commitment *	80
Grant Amount *	0
Total Project Cost *	80
Product Line	IBRD/IDA
Lending Instrument	Sector Adjustment Loan

Development Outcomes And Goals
*Targeted Thematic Outcomes...*	Supporting this Broader Dev't Goal
Standards and financial reporting	Develop global partnership for development (MDG); N/A (CAP); International financial architecture (GPG)
International financial architecture	Develop global partnership for development (MDG); International financial architecture (GPG)
Legal institutions for a market economy	N/A (CAP); Investment climate (CAP)
State enterprise/bank restructuring and privatization	N/A (CAP)
Regulation and competition policy	Investment climate (CAP)

Available Project Documents***
For a short project overview, please consult the Project Information Document if available.

	Implementation Completion and Results Report (ICR), Vol.1 -20-JUN-2005
	Tranche Release Document (TRD), Vol.1 -26-OCT-2004
	Program Document (PGD), Vol.1 -14-MAY-2003
	Project Information Document (PID), Vol.1 -13-MAR-2003

Contract Award Information

Click here to see contract award information about this project.

*Commitment at Board in USD$ millions. Does not reflect any cancellations. Pipeline and dropped projects display the forecast amount. Total project cost includes non-Bank funding.

** The project summary is drawn from the PAD, SAR, or PGD abstract and may not accurately reflect the project's current nature.

*** Project documents are posted to this website as soon as they reach certain milestones (more info.). For example, Project Appraisal Documents are processed and made available through this website a few days after Board approval. If you find that a report which should be here is unavailable, contact Infoshop .

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