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International Day for the Eradication of Poverty: Schallenberg Ensures Contribution
On the occasion of World Food Day and the International Day for the Eradication of Poverty, Foreign Minister Schallenberg ensures that the "reduction of poverty is the most important goal of the Austrian Development Agency". This has been underlined with the doubling of the Foreign Disaster Fund.
October 16, 2020
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City of Vienna Positions Itself at UNIDO Silk Road Conference
At the recent two-day international silk road conference hosted by UNIDO, the Vienna Chamber of Commerce and Industry, represented by location lawyer Alexander Biach, took a stand and presented the opportunities and advantages of the Vienna region and the possibilities of a connection to the new Silk Road (Belt and Road Initiative).
September 24, 2019
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Holzmann is the New Austrian National Bank Governor
The liberal Robert Holzmann (70) took over as Governor of the Austrian National Bank (OeNB) on 1 September 2019, succeeding Ewald Nowotny. The manner in which he will hold his office as governor will be followed with interest. The economist has already stated that he will pay more attention to the monetary policy of the European Central Bank (ECB) than his predecessor.
September 3, 2019
What Does Vienna Have in Common with the New Silk Road?
In order to ensure sustainable development, the cities along the New Silk Road also have to face major infrastructural and social challenges, as well as climate-ecological challenges. More than 1000 participants from more than 178 cities are expected in September in the Vienna International Center for UNIDO's Bridge for Cities Conference as part of the Belt & Road Initiative.
August 12, 2019
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Global Compact for Migration: Top UN Refugee Agency Diplomat Volker Türk at the Kreisky Forum
Austria's top diplomat in the UNHCR, a United Nations Programme, the international law expert Dr. Volker Türk has made an appeal to governments, NGOs and individuals to rethink refugee protection and to implement the UN Global Compact for Refugees adopted in 2018.
June 6, 2019
International Financial Institutions World Bank Group and IMF Expand Presence in Austria
Important success for Austria's business location policy. According to media reports, the IMF International Monetary Fund will move to Vienna in June, while the World Bank Group will double the staff and size of its Vienna office.
March 29, 2019
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Austrian National Bank Seeking Successors for Top Jobs
The Board of Governors of the OeNB Austrian National Bank has published a recruitment announcement for the new central bank governor, vice governor and two members of the Management Committee. Applications can be submitted until 5 December, according to the official gazette of the "Wiener Zeitung".
November 5, 2018
Western Balkans Summit was Held in Paris
Following the 2014 Western Balkans Summit in Berlin and the Vienna Western Balkans Summit of August 2015, the third Western Balkans Summit was held in Paris in the context of the ‘Berlin Process’. More than 500,000 of the people with migration background who live in Austria are from the region. Austrian companies have hundreds of branches or subsidiaries in the Western Balkans, which clearly illustrates the very close economic relations.
July 8, 2016
Western Balkans Countries Discussed Investment, Jobs and Integration in Vienna
The World Bank and the Vienna Institute for International Economic Studies (wiiw) held a high-level policy dialogue on ‘Investment, Jobs and Integration’ last week. Ministers and senior officials from the Western Balkans region as well as policy experts from international organisations and the business community gathered to discuss the challenges the region is currently facing, in particular the high unemployment rate, low international competitiveness, and lack of modern infrastructure.
July 8, 2016
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World Bank Approves Health Loan to Croatia
The Croatian government will use the World Bank’s funds for a national health program.
May 9, 2014
World Bank: Serbia Has Nine Month to Implement Reforms
According to Tony Verheijen, the World Bank’s Country Manager of Serbia, Serbia has nine month to implement the reforms necessary.
March 25, 2014
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Serbia: Inflation Requires New IMF Agreement
In the light of a devaluation of the Dinar Serbia needs a new agreement with the IMF to improve funding and accelerate the realization of reforms.
February 10, 2014
“Croatia Going through Very Difficult Period“
The World Bank calls for structural reforms in the Western Balkan state.
January 27, 2014
Serbia: World Bank Delays Loan
The World Bank has delayed a loan in the amount of US-$ 250m for Serbia.
January 24, 2014
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Poland: Key Interest Rate to Remain Unchanged
As expected, the key interest rate will not be changed. According to Marek Belka, governor of the Polish National Bank (NBP), there was no need in monetary interventions.
January 9, 2014
Slovenia: Growth through Diplomatic Network
Slovenian Finance Minister Karl Erjavec assured that throught diplomatic network the country’s economy will still be supported.
January 9, 2014
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Romania: Slight Increase in FX Reserves
In December 2013 FX reserves increased slightly compared to the previous month.
January 7, 2014
Slovenia: FDI to Remain Low in 2014
No improvement in increasing foreign direct investments in Slovenia is expected this year. The country has one of the smallest shares in inward FDI among EU member countries.
January 2, 2014
Bulgaria Still Below Pre-Crisis Level
The World Bank predicts that Bulgaria will not reach the pre-crisis level before 2008 in terms of GDP. Regarding Bulgaria´s fiscal situation, the country performs well, though.
December 20, 2013
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Slovenia: Budget Shortfall Greater than Expected
As per the end of November the country’s budget deficit amounted to almost € 1.62bn, according to the latest estimates by the Finance Ministry.
December 20, 2013
Bulgaria: Economic Upturn Not Sooner Than 2015
As reported by Bulgarian daily Standart, an economist at World Bank pointed out that the country has not yet reached the economic situation of before the start of the financial crisis in 2008.
December 20, 2013
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World Bank Increases Economic Growth Forecast for Poland
The World Bank has increased economic growth in 2013 from 1.0 percent to 1.5 percent.
December 19, 2013
Serbia: World Bank Attaches Loan to New Laws
The World Bank has attached the loan in the amount of US-$ 250m (€ 183m) for Serbia to the implementation of three important laws within this year still.
December 10, 2013
Nowotny: Economic Recovery not as Strong as Expected
According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), indicators point toward a slow recovery in the next quarters.
November 18, 2013
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World Bank: Croatia Showing Progress
Despite notable progress the country slipped back to beigt 89th out of 185 countries in the ranking “Doing Business” by the World Bank.
October 31, 2013
Albania Fighting NPLs
The Bank of Albania discusses introducing a policy for reducing non-performing loans and enhance lending.
October 28, 2013
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Southeastern Europe Initiates Common Economic Strategy
In Croatia´s capital Zagreb, the Southeast European countries agreed on putting more common effort into innovation based growth strategies.
October 26, 2013
Albania: World Bank Satisfied with Progress
Piero Cipollone, Executive Director of the World Bank Group visited Albania from October 21-22, 2013. In his role as Executive Director, he represents Albania’s interests as a shareholder on the World Bank’s Board.
October 25, 2013
Romania: Precautionary Financial Assistance Approved
The Council of the European Union has approved a new precautionary financial assistance program for Romania in extend of € 2bn in connection with a loan by the International Monetary Fund (IMF).
October 25, 2013
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Southeastern Europe: Dramatic Labor Market Conditions
In Southeastern Europe, the labor market conditions are similarly bad as in Southern Europe. Above all, youth unemployment is extremely high.
October 22, 2013
World Bank: 47 Banking Crises in the Past 40 Years
47 banking crises that have struck 116 countries in the past 40 years - World Bank
October 8, 2013
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World Bank Supports Financial Reporting in CESEE
The World Bank launched a new program to strengthen corporate financial reporting in the countries of the EU’s Eastern Partnership.
October 3, 2013
Romania Is Recovering According to PM
Romanian Prime Minister Victor Ponta presented the key issues on the new agreement with the EU Commission, the International Monetary Fund (IMF) and the World Bank to the parliament on Tuesday.
September 19, 2013
Romania: West Region to Catch Up Economically
Romania's West Region aims to catch up with its more developed peers in the European Union.
September 9, 2013
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Romania’s Economic Recovery Expected to Strengthen.
Staff teams from the International Monetary Fund (IMF), the European Commission (EC), and the World Bank visited Bucharest Romania during July 17–31.
August 1, 2013
Alpine: Serbia to Withdraw from Contract
Serbia intends to withdraw from the building contracts for the construction of a highway with bankrupt Alpine within the next 15 days.
July 3, 2013
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EVN Arbitration Proceedings Against Bulgaria to Start
EVN AG commences investment treaty arbitration against the Republic of Bulgaria.
June 21, 2013
World Bank: EU11 Countries Remain Attractive for Foreign Investors
Despite the slow recovery of economic activity, EU11 countries nonetheless remained attractive for foreign investors.
June 14, 2013
Ukraine Leaps to Business Deregulation
One of the reform priorities for Ukraine in 2012 has become the deregulation of business activity.
June 11, 2013
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Mixed Outlook for Russia
This year, Russia´s GDP will grow by 3.3%, the World Bank predicts. Regarding economic reforms, Russia must improve its effort, though.
March 4, 2013
Romania Needs More Time for IMF-Requirements
The financially stricken country did not implement the planned privatizations. EBRD criticized Romania´s slow progress.
January 23, 2013
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Serbia to Sign Loan Agreement with Russia
Tomorrow, Serbia´s Minister of Finance Mladjan Dinkic will visit Moscow.
January 10, 2013
Serbia Receives $ 800m Loan
The World Bank grants Serbia a loan of $ 800m. The loan covers Serbia´s budget deficit and enable the government to put more effort into infrastructure investments.
December 8, 2012
World Bank: „Poland is a Growth Engine for Eastern Europe“
According to the “Doing Business Report 2013”, Poland´s competitive position has improved remarkably. Austria was up by two ranks.
October 23, 2012
Austria Intends to Participate in World Bank Projects
AWO has been leading companies to international financial institutions: the World Bank annually awards about $ 70bn in loans for development projects
March 15, 2011
Austria attracts World Bank
Austria has concluded agreements for an official residence of the World Bank Group. It provides privileges similar to those of diplomats for employees of the international organization.
July 22, 2010
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