BH & EU

Over 80 Million BAM from the IPA Funds for Recovery

bih-and-euToday, in Sarajevo, on the session of the Council of Ministers, ministers adopted a proposal by the European Commission on the allocation of 42.24 million Euros of IPA for 2011th -2013. The allocated money will be used for various projects intended to help Bosnia and Herzegovina, which could be allocated by the end of June this year.

Directorate for European Integration will immediately inform the Commission about the acceptance of this proposal.

The previously mentioned IPA funds will be realized from 2011 to 2013 and will be used for 11 different projects.

In addition, the Council of Ministers approved the initiative of the Ministry of Finance and Treasury and appointed a delegation to conduct any negotiations for the conclusion of the Financing Agreement between Bosnia and Herzegovina and the International Development Association. Namely, the initiative is worth 57 million US Dollars and is named Emergency Flood Recovery Project.

Namely, the repayment period of the loan is 20 years, with a grace period of 10 years. In addition, the favorable conditions for the IDA will be used and the funds will be allocated to the flooded areas in the Federation of Bosnia and Herzegovina in the ratio of 60%  and 40 % to Republic of Srpska.

 

(Source: Fena)

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