December 8 (SeeNews) - The World Bank said on Friday it plans to provide some $135 million ($114.7 million) in new lending to Macedonia by end-2018 to back reforms in public financial management and social services and boost investment in energy efficiency projects.
"In addition to this, IFC, a member of the World Bank Group which supports the private sector, will target a lending volume of $40-60 million until the end of the CPS cycle," the World Bank said in a statement.
A review of the World Bank Group Country Partnership Strategy (CPS) for Macedonia for the period 2015-2018 has found that implementation of the program is largely on track with notable progress in improving transparency of public financial management, and efficiency of the social protection system. The bank's interventions also made satisfactory progress to create better conditions for private sector investments and links to foreign direct investments.
"Noteworthy results were achieved in strengthening social safety nets, and before the end of 2018 we expect further progress in public financial management, investment climate, road infrastructure, education sector and municipal infrastructure," Goran Tinjic, World Bank senior operations officer, said in the statement.
The current CPS is focused on two broad areas - growth and competitiveness, and skills and inclusion, with the EU accession agenda as a cross-cutting theme.
($= 0.8500 euro)