Serbia's hotels, retailers and its finance industry are set to receive fresh assistance from the World Bank's private sector unit over the next few months.

The Bank's International Finance Corporation (IFC) wants to help the ruling reformers in their efforts to speed up Serbia's privatisation programs.

"There are two big points on the agenda that need to be implemented," said the IFC's chief of mission to Yugoslavia, Roberto Albisetti,.

"One is the creation of a favourable business climate. The other is the acceleration of privatisation," Mr Albisetti told Reuters.

Strengthened entrepreneurs

Together, these moves should help build a private sector in Serbia which would fuel economic growth, Mr Albisetti believed.

IFC would initially help to make it easier for international business travellers to visit Serbia.

"Belgrade definitely needs international standard hotels," said Mr Albisetti.

"Our particular focus will be on central Belgrade. The market is simply non-existent in this sector."

And it wants to open hyper-markets in Serbia.

"Hyper-markets are normally extremely successful and very good for the local economy because they create competition, provide high quality goods at competitive prices, introduce new products and create jobs," Mr Albisetti said.

Better for firms

The IFC wants to strengthen Serbia's financial universe, in part by improving access to funding for small and medium firms.

In addition, the IFC wants to assist with the privatisation of manufacturers, insurers and other firms.

And it wants to clear the wave for the privatisation of the telecoms and electricity sectors.