BELGRADE (Serbia), April 20 (SeeNews) – Serbia's finance ministry said on Friday it signed a Reimbursable Advisory Services (RAS) agreement with the World Bank to receive technical support for the development of the business of state-run power utility Elektroprivreda Srbije (EPS).
The project is aimed at strengthening the corporate governance, risk management and business planning of EPS, which should contribute to more efficient operations, the finance ministry said in a statement.
The World Bank also signed an agreement to support Serbia in updating its National Money Laundering Risk Assessment methodology, the ministry said.
Moreover, the World Bank will administer a $1.35 million (1.1 million euro) donation from the Swiss State Secretariat for Economic Affairs (SECO) for improving the quality of government financial data in Serbia, which should provide precise information on assets, debt, revenues and expenditures, and contribute to better management of public funds, the ministry added.
The agreements were signed by Serbian finance minister Dusan Vujovic and the World Bank's Vice President for Europe and Central Asia, Cyril Muller, in Washington on Thursday.
($=0.8124 euro)