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Croatia: World Bank Loan To Help Zagreb Privatize

  • Robert Lyle

Washington, 14 May 1997 (RFE/RL) - The World Bank has approved a some $ 95 million loan to Croatia to support the government's efforts to restructure and privatize state-owned banks and enterprises.

The bank says Croatia has been successful in moving away from social ownership and starting privatization, but that the state still owns about one-third of the share capital of the enterprise sector, including large minority stakes in over 1,000 privatized firms.

The loan will be used to accelerate a program of privatizing large enterprises, especially public utilities, end minority state involvement, and push a program of banking reform.