EU and World Bank estimate urgent needs of Yugoslavia at $1.4 billion.
High level officials from 41 donor countries and 19 international organisations meeting in Brussels on 12 December for a Donor Coordination Meeting for the Federal Republic of Yugoslavia identified urgent needs for aid in the areas of energy, health and social protection.
The urgent needs total an estimated $1.4 billion, requiring external financing of $700 million. The meeting made good progress towards meeting the urgent needs: over the course of the last weeks and during the meeting itself some $509 million was announced by donors as ongoing or planned support towards urgent needs.
Yugoslavia is facing huge social and economic challenges to assist the most vulnerable, including refugees and the internally displaced to survive the winter. Meeting the urgent needs is crucial for consolidating democratic reform and transition, and to move away from donor aid. Several participants stated their intention to mobilise further assistance towards meeting these needs in the coming months.
The European Commission and the World Bank will continue to work with the FRY authorities to match needs and donor contributions. They will also develop an Economic Recovery and Transition program to address the medium term economic challenges, such as the economic and structural reform agenda, sectoral priorities, policy reforms and investment and capacity building needs.