Croatia should continue with efforts to free its growth potentials by implementing structural reforms in nearly all sectors, the World Bank's vice president for Central Europe and Asia, Philippe Le Houerou, told the press on Tuesday.
The World Bank will continue cooperating with Croatia, paying special attention to capacity building so that Croatia can fully exploit the advantages of European Union membership and absorb as much money from the Union's structural funds as possible, he said.
Croatia has made huge progress in the 20 years of independence and its committed work has been rewarded with the completion of the EU accession negotiations, said Le Houerou.
He also said the Croatian government's achievements in the prevention of corruption deserved to be recognised and that Croatia's experience could serve as an example to other countries in the region.
Asked if he was concerned about the slow recovery of the Croatian economy, Le Houerou said it was essential that Croatia free its growth potentials and improve its competitiveness, which he said it could do by improving the education system, with innovation and creativity, and by making the private sector more dynamic.
During his visit, Le Houerou held meetings with political leaders and representatives of the business community. The aim of the visit was to discuss ways of accelerating economic recovery and improving Croatia's competitiveness before EU accession.
Croatia and the World Bank have been cooperating since 1993. The World Bank has taken part in the financing of 46 projects with some US$ 3 billion and approved 52 grants totalling $70 million.
