World Bank Adopts New Strategy for Macedonia

World Bank operations in Macedonia over the next few years will focus on promoting green and inclusive growth that will support the country’s post-crisis recovery and its accession to the European Union. The agreement was reached during an official visit to the country by Philippe Le Houérou, World Bank vice president for Europe and Central Asia.

Macedonia’s Deputy Prime Minister and Minister of Finance Zoran Stavresk said the government and the World Bank agreed to shift the bank’s portfolio in the country to projects that will improve Macedonia’s competitiveness, particularly in the area of clean and renewable energy.

The total amount the World Bank will provide for its new four-year strategy remains unclear. Stavresk explained it will be most likely be finalized during the World Bank and IMF spring meetings, scheduled for April.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.