Announcements
Bevanda: Financial Cooepration of BIH with KfW and FR Germany Is Respectable
09/24/2013
Vijeće ministara Bosne i Hercegovine
The interlocutors expressed their pleasure for continued cooperation of the Government of the Federal Republic of Germany and Council of Ministers of BIH and KfW support in terms of multimillion projects in energy sector , water supply and waste water treatment sectors in the whole of BIH.
The high delegation of the KfW expressed its concern about the lack of operative activities and initiatives on the part of the Power Utility of Herzeg-Bosnia in regard to the realisation of the Vrilo Pump Hydro Power Plant Project worth EUR 100 million, which may cause the loss of funds. Also, they expressed a hope that this situation will finally have a positive outcome.
Chairman Bevanda pledged his support to the KfW to have these high value projects implemented, adding that it is in the interest of BIH to put into function all unutilised energy potentials. He also pointed at his high appreciation of intentions of the Government of the FF Germany to support, though the KfW, development of market economy through its assistance to reforms aimed at the improvement of status of SMEs, including the financial and taxation sector reforms.
Respectable indices were noted of the financial cooperation of BIH with the FR Germany, through the KfW, with total grant and loan funds in amount of EUR 600,594,283.17 to BIH, out of which EUR 94,594,283.17 of grants and EUR 506,000,000.00 of loans. Chairman Bevanda also expressed his gratitude for an inter-governmental agreement, under which a debt of BIH of EUR 50,273,000.00 debt was forgiven.
General Manger Siller said that the cooperation between the KfW and Council of Ministers of BIH is exceptionally successful, as proven best by the past and current KfW portfolio.
The meeting was attended by Head of the KfW Sarajevo Office Stephan Leudersdorff.
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