TFF helps Croatia get a US$ 40 million World Bank loan

By Jan Oberg

TFF PressInfo 41 – June 30, 1998

Originally published here.

The World Bank last week approved a DEM 74 million (US$40.6 million equivalent) Reconstruction Project for Eastern Slavonia, Baranja and Western Srijem Loan for Croatia. The project area is one of the most fertile parts of the Balkans and prior to the war, was known as the “bread basket” of the region. Due to damage to the extensive flood control and drainage system, much of the agricultural land has become unusable. The project will:

1) Repair and rebuild the flood control and drainage facilities;

2) Clear the landmines left behind in the flood control network;

3) Provide for sound and sustainable environmental management of the adjoining nature reserve at Kopacki rit;

4) Rebuild a partially completed wastewater system in one of the major towns in the area.

The World Bank explains that the project is expected to make a major contribution in stimulating the local economy, thereby creating an incentive for people to return home. It is an important contribution to reconstruction [Read more…]