News archive - €50 million of Macro-Financial Assistance for Bosnia and Herzegovina, more concrete reforms expected

EC press release: Bosnia and Herzegovina (BiH) received the first tranche (payment) worth €50 million from the Macro-Financial Assistance provided by the European Union.

The decision to grant this assistance was taken to alleviate the impact of the economic crisis on Bosnia and Herzegovina's budgetary and external position. The total macro-financial assistance to Bosnia and Herzegovina amounts to €100 million and is in line with the commitment of the 27 EU Member States to the European perspective of Bosnia and Herzegovina. It is a concrete sign of how the European Union provides support to the people of BiH. The first instalment was paid after the country fulfilled the required conditions.

The European Union expects that the governments in BiH at state and entity level now use this assistance to support economic growth so as to improve living standards.

"This substantial support by the EU is an important political sign of trust from the EU Member States that Bosnia and Herzegovina is serious about its European Integration process. We are now expecting BiH politicians in return to fulfil their commitments in order to move forward in the accession process: We need to see functioning institutions at all levels, faster structural reforms and improvements in policy coordination. This means focusing on the public sector – reducing the size of government and expenditures – and making the business and investments environment better. This would lead to a more competitive economy, higher trade volumes and help reverse the trend of slowing economic recovery. This in turn should improve living conditions for all citizens of BiH", Commissioner for Enlargement and European Neighbourhood Policy Štefan Füle said.

The second instalment of € 50 million for BiH can be disbursed after further conditions will have been fulfilled.


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Geographical focus
  • Bosnia and Herzegovina
Scientifc field / Thematic focus
  • General

Entry created by Desiree Pecarz on February 19, 2013
Modified on February 19, 2013