In the next five years, the World Bank (WB) will make available to Bosnia and Herzegovina 750 million dollars through loans intended for the implementation of reforms and recovery from the consequences of the pandemic caused by the coronavirus, this financial organization confirmed on Wednesday.
Such a decision was made by the Board of Executive Directors of the WB, adopting the framework for partnerships with BiH in the period from 2022 to 2026, which foresees support for sustainable recovery from the impact of the pandemic, as well as the reforms needed to create new jobs and an inclusive and green economy.
The approval of loans will be based on assessments of the country’s needs, but will also depend on progress in the implementation of reforms.
“The unstable regional and global environment requires reforms and institutional changes, which will make the economy of Bosnia and Herzegovina more resistant to internal and external shocks,” reads the statement delivered to the media.
The World Bank clarified that the reserved funds are intended for increasing inclusive employment in the private sector, improving service provision, as well as providing assistance to BiH in order to increase its resistance to climate change.
This framework also includes the common theme of gender issues, that is, the removal of structural obstacles that limit economic opportunities for women and other vulnerable groups.
BiH currently uses World Bank funds in the amount of about 551 million dollars.
