중동부유럽

The second Additional Financing (AF) in the amount of Euro 25 million (US$27 million equivalent) is proposed to the Serbia Accelerating Innovation and Growth Entrepreneurship (P170185) parent project. The SAIGE Project currently includes an IBRD loan in the amount of €43 million (US$48 million), signed on December 13, 2019, and declared effective on May 18, 2020. It also includes an EU IPA 19 funded, recipient-executed grant of €26.88 million (US$28.52 million) processed as Additional Financing in July 2023. This first AF was not processed at the same time with the original IBRD Loan due to the slightly later approval of EU IPA funds in December 2019, and, at the time prolonged negotiations on the EU-WB Financial Framework Partnership Agreement, finalized on July 8, 2021. The first AF enables the scale-up of activities in the parent Project in line with approved development objectives through the same implementing entities and programs.