The World Bank will provide technical assistance to the Government of Serbia to improve the performance of the Serbian power utility Elektroprivreda Srbije (EPS).
The agreement on providing Reimbursable Advisory Services (RAS) to EPS was signed by Cyril Muller, World Bank Regional Vice President for Europe and Central Asia, and Dušan Vujović, Serbian Minister of Finance, last week in Washington.
This will be done through strengthening corporate governance, risk management and business planning of EPS, which will contribute to improved efficiency of the Serbian public power utility, the Bank said in its statement.
The technical assistance is part of the broader engagement of the World Bank in Serbia and support to the government’s economic reform and restructuring program.
Miller and Vujović also signed another RES agreement and one donation contract, both documents related to government’s financial services.
The statement said that the two RES agreements were in response to Serbia’s request for World Bank expertise.
The Serbian Ministry of Finance reported that Muller and Vujović met as part of the spring session of the International Monetary Fund (IMF).
World Bank (WB) recently provided an EUR 160.6 million loan to Serbia to support EPS in, among other activities, increasing electricity supply tariff rise in the country.