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World Bank

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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