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Second Programmatic State Owned Enterprises Reform DPL

Abstract*

The development objectives of the Second Programmatic State Owned Enterprises Reform Operation Project for Serbia are to reduce state participation and level of direct and indirect support to the real sector, enhance state owned enterprises (SOEs) performance, governance and accountability, and mitigate the short term social and labor impacts of the SOEs restructuring and disposition plans. These objectives will be achieved through supporting reforms...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

Project Development Objective (Note: will be disclosed in the MOS)This second State Owned Enterprise Reform Development Policy Loan (SOE DPL 2) build s on the reforms initiated in the first DPL which has provided the institutional framework and first actions to complete Serbia's transition to fully functioning market economy. DPL2 will support the restructuring and liquidation of remaining SOEs (out of an initial pool of 169 companies) and support a problem which carries out these reforms according to international experience and social standards.Board Schedule Comments

Key Details

Project Details

  • P149750

  • Closed

  • Javier Suarez Cordero , Dusko Vasiljevic

  • Ministry of Finance

  • Serbia

  • October 25, 2016

  • (as of board presentation)

    October 25, 2016

  • January 12, 2017

  • US$ 100.00 million

  • Ministry of Economy

  • Europe and Central Asia

  • 2017

  • US$ 100.00 million

  • N/A

  • Not Applicable

  • December 31, 2017

  • BANK APPROVED

  • P127408

  • June 17, 2020

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
International Bank for Reconstruction and Development 100.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment 100.00
IDA Commitment N/A
IBRD + IDA Commitment 100.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 100.00

Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of June 30, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Apr 15, 2024 IBRD-86540 Int Charges 2,359,400.20
Apr 15, 2018 IBRD-86540 Int Charges 274,130.75
Oct 15, 2022 IBRD-86540 Int Charges 191,086.20
Apr 15, 2023 IBRD-86540 Int Charges 1,400,701.60
Oct 15, 2023 IBRD-86540 Int Charges 2,030,946.40
Apr 15, 2020 IBRD-86540 Int Charges 214,110.77
Oct 15, 2020 IBRD-86540 Int Charges 326,293.38
Apr 15, 2021 IBRD-86540 Int Charges 173,816.02
Oct 15, 2021 IBRD-86540 Int Charges 164,314.12
Apr 15, 2022 IBRD-86540 Int Charges 152,122.14
Oct 15, 2018 IBRD-86540 Int Charges 264,714.70
Apr 15, 2019 IBRD-86540 Int Charges 267,023.56
Oct 15, 2019 IBRD-86540 Int Charges 286,631.38
Jan 12, 2017 IBRD-86540 Loan Disb 239,148.62
Jan 12, 2017 IBRD-86540 Fee Charges 239,148.62
Apr 15, 2017 IBRD-86540 Int Charges 44,317.17
Apr 15, 2017 IBRD-86540 Int Charges 308.03
Oct 15, 2017 IBRD-86540 Int Charges 269,918.62
Oct 15, 2017 IBRD-86540 Int Charges 17,897.18
Mar 22, 2017 IBRD-86540 Loan Disb 96,705,712.00
Oct 15, 2017 IBRD-86540 Int Charges 17,413.48
Apr 15, 2018 IBRD-86540 Int Charges 5,625.24
Oct 25, 2016 IBRD-86540 Loan Commitment 100,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

No data available.

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 03-28-2019
OutcomesSubstantial
Risk to Development OutcomeModest
Bank PerformanceSubstantial
Borrower PerformanceSubstantial
Government PerformanceNot Applicable
Implementing AgencyNot Applicable

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 03-23-2020PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingSatisfactory N/a
Risk To Development OutcomeModestN/a
Bank PerformanceSatisfactoryN/a
Borrower PerformanceSatisfactoryN/a
Government PerformanceSatisfactoryN/a
Implementing AgencyNot RatedN/a
Icr QualityModestN/a
M&e QualitySubstantialN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Reduction of direct and indirect support to companies in the Privatization Agency portfolio - annual direct subsidies and soft loans (EUR mn)Value85.000.0010.00
    DateDecember 31, 2012December 31, 2016
    Comment
  • Disposal and treatment of legacy hazardous waste generated by companies in the Privatization Agency portfolio - total volume of legacy hazardous waste that was disposed and/or treatedValue0.000.001500.00
    DateDecember 31, 2014December 31, 2016
    Comment
  • Audited financial statements prepared and published by enterprises in accordance with provisions of Law on PE and new Laws on Accounting and Auditing, for PEs which the founder is the Republic of SerbValue0.000.0024.00
    DateDecember 31, 2012December 31, 2016
    Comment
  • Reduction of direct subsidies and issuance of new guarantees for liquidity purposes for remaining large SOEs - direct subsidies (EUR mn)Value250.000.00200.00
    DateDecember 31, 2012December 31, 2016
    Comment
  • Number of redundant workers receiving compensation from the Transition Fund increases from approx. 5,700 (2014) to at least 25,000 (cumulative 2015 and 2016)Value5700.0020000.0025000.00
    DateDecember 31, 2014December 31, 2015December 31, 2016
    Comment
  • At least 30 percent of workers made redundant from public enterprises during 2016 register with NESValuena
    Date
    Comment
  • Number of participants in public works increases from 2,882 in 2013 to at least 7,000 in 2016Value2882.000.007000.00
    DateDecember 31, 2013December 31, 2016
    Comment
  • Reduction of direct subsidies and issuance of new guarantees for liquidity purposes for remaining large SOEs - annual guarantees for liquidity purposes (EUR mn)Value265.000.000.00
    DateDecember 31, 2014December 31, 2016
    Comment
  • Reduction of direct and indirect support to companies in the Privatization Agency portfolio - new tax obligations and social contributions arrears (EUR mn)Value190.000.0020.00
    DateDecember 31, 2012December 31, 2016
    Comment
  • Reduction of direct and indirect support to companies in the Privatization Agency portfolio - new arrears to public utilities (EUR mn)Value70.000.0020.00
    DateDecember 31, 2012December 31, 2016
    Comment