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Yugoslavia - Industrial Project (English)

The First Industrial Modernization Project will assist in financing the foreign exchange requirements for the modernization of seven existing enterprises in various fields of Yugoslav industry: iron and steel, trucks and buses, bearings, synthetic fibers, paper and wood. The principal objective of the projects is to rationalize production, reduce costs and improve product quality. The projects were selected by the Yugoslav Investment Bank as being of high economic priority in various sectors of industry. Their total cost is estimated at $37 million equivalent, including requirements for working capital. The direct foreign exchange component is estimated to be about $14 million, of which $10.5 million will come from the proposed bank loan and most of the rest from a loan of $2.8 million to one enterprise (OHIS) from U.K. sources. The local cost equivalent to $23 million will be provided by the enterprises themselves and through loans from Yugoslav banks.

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Yugoslavia - Industrial Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/126281468326368445/Yugoslavia-Industrial-Project