news 07 Nov 12

World Bank Urges Speedier Reforms in Bosnia

Jane Armitage, World Bank coordinator for the Western Balkans, said Bosnia would obtain more support from the bank if it carried deeper structural reforms.

Elvira M. Jukic

After meeting Bosnia's Prime Minister, Vjekoslav Bevanda, on Tuesday, Jane Armitage said that the World Bank would continue to help Bosnia, adding that the country would obtain more help if it conducted structural reforms.

“We have significant sources available to support the country through budget support operations if indeed the country was able to make progress on some of these structural reforms,” Armitage said.

She referred to proposed reforms to the public administration, pensions and social transfers, and an improved investment and business environment.

She also said that countries of the region have mutual issues to work on, such as infrastructure, energy, transport and water resources management.

Bevanda said that Bosnia would speed up the process of ratification of approved projects by the World Bank, worth 160 million US dollars.

The cash, which has been on hold for months, are credits for small and medium enterprises, irrigation and other projects.

The World Bank in May approved 120 million US dollars for SMEs and another 40 million for fighting the consequences of weather disasters but the loan was not ratified by Bosnian institutions.

Armitage's visit to Bevanda on November 6 was a farewell since she is leaving her post after five years.

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