The World Banksigned on Thursday an agreement with Serbia-Montenegro to provide some 46 million US dollars for electric and irrigation projects inSerbia.

The agreement was signed by a World Bank representative and Serbia-Montenegro Minister for International Economic Relations Predrag Ivanovic.

Under the agreement, 21 million dollars to Serbia's Electric Power Company are intended to improve access to the electric powermarket for consumers and suppliers, in an effort to realize the project "Regional Energy Markets of Southeastern Europe - component for Serbia-Montenegro".

Other 25 million dollars are allocated to the project for realizing an irrigation and dewatering system in Serbia.

The loan is interest free, repayable over 20 years with a 10-year grace period.

Source: Xinhua