BELGRADE, Serbia, May 11 (UPI) -- Japan has made grants totaling $800,000 to stimulate reforms and employment in private and finance sectors in Serbia-Montenegro.
Japan's Ambassador Tadashi Nagai said the grant was aimed at offering technical assistance in improving fiscal management, business climate and stabilization of the financial sector.
He said the Japanese government "believes that re-structuring these sectors is essential" for Serbia-Montenegro, which is turning its post-communist system into a free-market economy, the Serbian radio-television reported.
Nagai attended a ceremony at which officials of Serbia-Montenegro and the World Bank signed an agreement on Japan's donation.
Japan has donated more than $8 million to Serbia-Montenegro in the past five years.
