Minister Vrankić and Ambassador Tatham Sign New Projects



Deputy Chairman of the Council of Ministers and Minister of Finance and Treasury of B-H  Dragan Vranić and Ambassador of Great Britain in B-H Michael Tatham signed in Sarajevo project documentation for two new projects aimed at further assistance provision for a more effective management of financial resources in Bosnia and Herzegovina.

 

“These two projects, to be implemented by next March, represent the continuation of a successful cooperation between the Ministry of Finance and Treasury of B-H and Great Britain Department for International Development (DFID), which started in 2005. They pertain to technical assistance to the Ministry of Finance and Treasury of B-H”, stated Minister Vrankić after the signing. He explained that the projects are mutually connected - one to offer support to country’s public finance management - other to assist in management foreign financial assistance.

 

Minister Vrankić highlighted that the “Improvement of Public Finance Management Project is being implemented in Canton and Entity Finance Ministries (with overall technical assistance valued at € 3,000,000) and is intended to ensure further improvement of mid-term planning and budget development processes by way of training finance ministries staff, as well to budget users’ staff, so that high quality budget requests would be prepared to reflect government policies and define strategic aims and expected outcomes.” He added that the Project of Coordination and Effectiveness of Assistance to B-H (in amount of £ 950,000) should improve effectiveness of international development aid utilisation through application of internationally accepted principles and creation of functional system of foreign aid coordination, in line with the development priorities.“

 

Minsiter Vrankić thanked to the Government of Great Britain and DFID and stressed that the project development took care of our stated needs.

 

During the signing of project documents, British Ambassador in B-H Tatham said that “effective public spending, to be supported either through tax payer contribution or through international resources, is a key to economic and social development, as well as for country’s preparation for EU membership.” He specified that the improved public resources management primarily results in higher quality of public services for B-H citizens and the related improved citizen confidence in the Government.

 

The above two projects are being implemented by a team of international and B-H experts. The PKF consulting company based in the Great Britain and Innova d.o.o. consulting company based in B-H are the holders of the  SPEM project, which is the third in the series  of projects in the sector, all are financed by DFID. The ACE Project is managed by Coffrey International Development consulting company.

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