The Program-for-Results (PforR) loan is proposed as a suitable instrument to support the Government of Serbia (GoS) Program for Reconstruction and Improvement of State-Owned Public Facilities and Road Rehabilitation Program. The GoS Road Rehabilitation Program that will be supported under the Enhancing Infrastructure Efficiency and Sustainability Program is administered by Public Enterprise “Roads of Serbia” (PERS), and is presently funded by a mix of toll revenues and budgetary allocations.
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- The World Bank developed the PforR financing instrument with an objective to create support for demanding programs that help deliver sustainable results and build institutions. PforR is one of three financing instruments offered to countries members of the World Bank, also including Investment Project Financing (IPF) and Development Policy Financing (DPF). It is the youngest financing instrument, created only in 2012 and it is unique in the sense that its making was largely client instigated.
PforR’s particular features include using a country’s own institutions and processes, and linking disbursement of funds directly to the achievement of specific program results. This approach helps build capacity within the country, enhances effectiveness and efficiency and leads to achievement of tangible, sustainable program results.
The lead partner and main coordinator of the PforR implementation for Transport sector is PERS.