Dr. Lagumdzija participates in the EBRD Annual Meeting: More Investment needed to support the youth employment



During the EBRD 23^rd Annual Meeting in Warsaw, Deputy Chairman of the Council of Ministers and Minister of Foreign Affairs of Bosnia and Herzegovina Dr. Zlatko Lagumdzija had bilateral meetings with representatives of international financial institutions – EBRD, the European Investment Bank, OPEC, the Kuwait Fund and the U.S. Department of the Treasury.

Dr. Lagumdzija and the EBRD’s First Vice President Phil Bennet agreed that Bosnia and Herzegovina and EBRD have achieved successful cooperation and they believe that the same will be continued in the future.

The three main directions of future cooperation with EBRD are: investment in the public sector, primarily to continue the construction of Corridor Vc, projects in the field of energy and small and medium-sized enterprises.

Speaking about the importance of regional approach towards investment of the EU and international financial institutions, Dr. Lagumdzija pointed out that B&H and other countries in the region could work together on the preparation of projects in order to enable joint access to sources of the EU funding.

The interlocutors agreed that EBRD’s activities in the next period needs to be more focused on the youth employment projects, as well as Innovation funds with the aim to attract young businessmen.

At the margins of the Conference, Dr. Lagumdzija met with Director for Europe and Euro-Asia at the U.S. Department of the Treasury Jeff Baker to discuss activities and cooperation with International Monetary Fund (IMF).

On this occasion he informed his interlocutor of activities undertaken by relevant authorities of B&H so as not to bring into question the payment of pensions and assistance for socially vulnerable categories.

Dr. Lagumdzija also met with Executive Director of the European Investment Bank Romuald Massa Bernnuci and they discussed the projects implemented by EIB in our country, particularly emphasizing that EIB provided 100 million Euros for the construction of the Corridor Vc section Pocitelj – Medjugorje.

EIB will provide financial support for the construction of one hydroelectric power plant for the first time, and the amount of 37,5 million Euros will be used for the construction of hydroelectric plant Vranduk.

Apart from projects in the field of renewable energy that are important for our country, Dr. Lagumdzija asked EIB to support the youth employment projects as well. EIB will consider support to the project that has been currently implementing by the Government of the Federation of B&H with the aim to create new 10.000 jobs for young people. The expert team is expected to come to B&H in a few days in order to meet with representatives of relevant institutions and discuss the EIB involvement in the above mentioned projects.

At the meetings with representatives of OPEC and the Kuwait Fund which are investing in the infrastructure projects in B&H, they agreed on further financial support for the construction of the Corridor Vc motorway section Zenica North – Zenica South. The construction is expected to start in this year.