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Croatia: World Bank Postpones Loan

  • Robert Lyle



Washington, 25 June 1997 (RFE/RL) - The World Bank's Board of Executive Directors agreed yesterday to postpone for a day or two consideration of a proposed $30 million loan for Croatia to rebuild the investment climate in the country.

A bank spokeswoman said the postponement was taken at the request of the United States.

An unidentified U.S. official was quoted Monday as saying Washington asked for the delay because Croatian President Franjo Tudjman has not followed through on some of his commitments under the Dayton peace accord, including not taking the necessary steps on war criminals.

The United States and the other seven nations, including Russia, at last weekend's Denver summit warned all parties in former Yugoslavia that continued international financial assistance would be contingent upon full compliance with the peace agreement.

World Bank rules, however, forbid the use of political considerations in decisions on loans. The United States does not have a veto in the bank, but does carry weight as the largest member.
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