Minister Špirić Receives EBRD Director for BIH



Deputy Chairman of the Council of Ministers of BIH and Minister of Finance and Treasury Dr Nikola Špirić received in Sarajevo today Director for BIH in the EBRD Steering Board Kurt Bayer.

The meeting underlined that the EBRD is one among major investors in BIH, as it has placed EUR 1.4 billion through various projects in BIH since 1996 to date.

Beer said that the EBRD is still interested to invest into BIH, to which he is also committed himself, but for that to happen it is necessary remove obstacles for drawing of still unutilised EUR 300 million.

According to Bayer, there is a possibility for involving more considerably the private sector in future EBRD projects, as is the case in other countries. He said that the EBRD extends its operations to North Africa countries, so a more active approach is required in order to maintain the focus of the Bank to its traditional markets, with BIH being of them.

Minister Špirić said that the Ministry of Finance and Treasury of BIH does its best to overcome the problems that gave rise to a situation where end-beneficiaries do not draw already approved EBRD funds. He added an encouraging fact that BIH takes an important place in the 2012-1014 EBRD Strategy, while private companies in BIH should find their role in Banks’ future projects, especially in the programmes designed for SMEs.

Špirić informed Bayer of the activities concerning the BIH Budget adoption, including measures foreseen for reduction of public spending aimed at earmarking more funds to real sector, as the saving measures are only purposeful on condition of leaving the space for investment and economic development.

Minister Špirić thanked to Bayer for his good representation of interests of BIH in the EBRD Steering Board, and expressed his expectation that the future cooperation with be of mutual benefit.

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