The World Bank Group signed agreements during fiscal year 2007 for loans, credits, equity (portfolio) investments, and guarantees for its members and private enterprises in the Europe and Central Asia region amounting to six billion US dollars, as announced by the World Bank Office in Croatia.
Recipients use these funds in more than 130 projects designed to address poverty issues and strengthen growth, for example, by improving educational and health services, promoting private sector development, building infrastructure, and strengthening governance and institutions. "We are pleased when we look back on a year of solid economic growth for most countries in our region," said Shigeo Katsu, Vice President of the World Bank for Europe and Central Asia. "Structural reforms in most countries are the drivers of lasting success in the Europe and Central Asia region. However, numerous challenges remain, including challenges in continuing institutional reforms, significant inequalities within countries, rapidly aging or declining populations, and persistent unemployment, especially among youth.
