International donors today pledged some $1.28 billion (€1.5 billion) for economic, social and institutional reforms in the Federal Republic of Yugoslavia (FRY). The pledges, which are for commitment in 2001, fully meets the target of $1.25bn identified in the economic reform and transition program prepared by the World Bank and the European Commission with the FRY authorities. The program calls for a total of some $4 billion over the next three to four years. 

"This is a tremendous response by the international community" said Johannes Linn, Vice President of the World Bank for Europe and Central Asia. "Over the last six months the new FRY government has proven itself as a serious force for reform, ready and able to move forward on the economic recovery program which now has the full support of the donor community. It is important that this support includes a substantial component of quick-disbursing finance on sufficiently concessional terms.  And it must quickly be converted into real disbursements on the ground.”

"Many people in the Federal Republic of Yugoslavia - as in the rest of the region - have had a hard time over the last ten years", said Catherine Day, the European Commission’s Deputy Director General for External Relations. "Over the last six months the people of FR Yugoslavia and their new leadership have courageously begun to tackle the legacy of the past. We have seen today that they do not have to face these challenges on their own - now the country can plan its long-term future as part of the European family, confident of the support of the international community."

"We are aware that the contributions of all donors are based on taxpayers' money and we are grateful to them,” said Miroljub Labus, Deputy Prime Minister of the Federal Government of Yugoslavia. “But let us consider all the donations pledged as investments in the future of the region. These investments will create the framework for the peace and stability of FRY as well as all other countries in the region. Investing in the future is a much better option than bearing the costs of instability and havoc".

See Federal Republic of Yugoslavia Donors' Conference Page

See Chairmen's Conclusions

See Serbia and Montenegro page.