Today the Prime Minister of Serbia, Mirko Cvetković, signed the Loan Agreement for the World Bank Southeast Europe and Caucasus Catastrophe Insurance Facility project. On same day, the Loan Agreement was countersigned by Loup Breffort, World Bank Country Manager for Serbia, and sent to the Serbian Parliament for ratification. The $5 million loan will finance Serbia's membership contribution to Europa Re, thus allowing the company to complete the first round of capitalization necessary for meeting the minimum capital requirement for a reinsurance company under Swiss law.