The World Bank's board of executive directors approved on May 10 a USD100 million loan to local self-administrations in Serbia, to support managing sustainable infrastructure, encourage even growth and enable the transition to green energy, the WB has announced.
The loan is part of USD300 million in financial support as part of the Local Infrastructure and Development (LIID) project which was prepared in association with the French Development Agency (AFD), the statement said.
It stressed that the objective of the LIID project was to assist the Serbian government in its efforts to secure better infrastructure services, enhance mobility, lower the carbon footprint and increase the availability of economic opportunities and services for all citizens.
The LIID project will initially focus on the traffic sector, which is the second largest source of greenhouse gasses, but also the fastest growing source of these emissions and one of the main causes of air pollution and noise in Serbian cities. The project is designed to help Serbia achieve its goal by 2030 and lower greenhouse gas emissions by 9.8% compared with 1990.
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