BH and the European Union

Cooperation with the European Union

Since the beginning of the European integration process of Bosnia and Herzegovina, the Central Bank of Bosnia and Herzegovina (CBBH) has been an active participant in all the phases of the EU integration process. The alignment of central banking regulatory, institutional and operational framework with the European System of Central Banks (ESCB) standards and requirements is significantly important area of institutional development for EUcandidate countries. Sound, stable, independent and modern Central Bank provides strong support to BiH in the European integration process.

Since the establishment of the Central Bank of BiH strengthening the institutional capacities with a view of higher international visibility and positioning in integration process remains strategic direction. The European integration and international cooperation are present in all the areas of the Central Bank operations and to large extent determine the CBBH strategic priorities, goals and tasks. Central Bank of BiH aims to strengthening its international connectivity and better positioning in the EU and international relations.

The Stabilisation and Association Agreement between the European Communities and their Member States, on the one hand, and Bosnia and Herzegovina, on the other, was signed in 2008 and entered into force in 2015, thereby establishing for the first-time contractual relationship between BiH and the EU and its Member States, with clearly defined rights and obligations.

The Stabilisation and Association Agreement (SAA) between Bosnia and Herzegovina (BiH) and the European Union (EU), Article 86, states: “The Community and BiH shall establish close cooperation aimed at contributing to the development and growth potential of BiH. Such cooperation shall strengthen existing economic links on the widest possible foundation, to the benefit of both Parties.” Article 87 defines: “At the request of the authorities of BiH, the Community may provide assistance designed to support BiH’s efforts to establish a functioning market economy and to gradually approximate its policies to the stability-oriented policies of the European Economic and Monetary Union.”

The implementation of the SAA is monitored by the joint structures of the European Union and Bosnia and Herzegovina. The main operational body for monitoring the SAA implementation is the Stabilisation and Association Committee and seven subcommittees for technical and expert topics related to the SAA areas covered by and the EU Acquis.

The Central Bank of Bosnia and Herzegovina participates in the work of the following subcommittees:

Subcommittee on the Internal Market and Competition;
Subcommittee on Economic and Financial Affairs and Statistics.

Coordination and communication of the European integration process is defined by the Decision of the Council of Ministers of BiH on the system of coordination of the European integration process in BiH. Subsequently, as based on the Decision, there are working groups for EU integration.

The CBBH is a member of working groups for the following chapters of the acquis Communautaire:

Cluster 1 – Fundamentals of the Accession Process

Chapter 18: Statistics
Chapter 32: Financial Control (protection of the euro against counterfeiting)
Economic Criterion

Cluster 2 – Internal Market

Chapter 4: Free Movement of Capital
Chapter 9: Financial Services

Cluster 3 – Competitiveness and Inclusive Growth

Chapter 17: Economic and Monetary Policy

Cluster 5 – Resources, Agriculture and Cohesion

Chapter 33: Financial and Budgetary Provisions

An important aspect of European integration is regular exchange and reporting to EU institutions on the implementation of the EU recommendations. The European Commission assesses progress in meeting the Copenhagen criteria in its regular annual Report on Bosnia and Herzegovina, for which the CBBH prepares information and data in its jurisdiction. The CBBH also contributes to the preparation of the Economic Reform Programme of BiH, including participation in consultations and meetings with the European Central Bank and the European Commission as part of the economic policy dialogue within the Economic and Financial Affairs Council (ECOFIN). The European Commission Report on BiH, ECOFIN conclusions, as well as other EU documents provide recommendations and guidelines that assist the Central Bank in formulating its policies and strategies for the ESCB membership. Eurosystem membership as single monetary area with the common currency – the euro – require fulfillment of the Maastricht criteria.

In order to ensure coordinated and harmonisedapproach in the EU integration process, the Central Bank of BiH has established EU Integration Committee, chaired by the Governor. EU Integration Committee, discusses and takes into consideration all strategic tasks related to the Central Bank in the EU accession process of Bosnia and Herzegovina.

Related press release:

Recommendation: Continue to Safeguard the Integrity of the Currency Board and Independence of CBBH 26.5.2025.)
CBBH at the annual meetings related to the Economic Reform Program for the period 2025 – 2027 (30.04.2025.)
The CBBH Representatives at Expert Meeting of the EC and Candidate Countries for Membership (10.04.2025.)
CBBH Representatives at the Meeting on Macroeconomic Projections for the EU Candidate Countries (16.10.2024.)
CBBH Representatives at the Meeting on Macroeconomic Projections for the EU Candidate Countries (21.5.2025.)
Governor Selimović held a meeting with ECB President Christine Lagarde (25.4.2025.)
CBBH Governor Jasmina Selimović, Ph.D. hosted the Head of the EU Delegation, Luigi Soreca (21.11.2024.)
Workshop on the EU Accession Process Held in the CBBH (09.10.2024.)

The archive of announcements is available here Archive of press releases

Technical cooperation

The Central Bank of Bosnia and Herzegovina actively participates in the programming and implementation of technical assistance projects all in the wide framework of EU accession and EU funded. Technical cooperation and exchange take complementary and coordinated approach with programmes provided by the International Monetary Fund, the World Bank, other development banks and organizations.

EU Projects

The European Union (EU) supports development and fundamental reforms in Bosnia and Herzegovina through financial and technical assistance. Socio-economic reforms are key to Bosnia and Herzegovina's progress towards a functional market economy, as one of conditions for EU membership. Technical assistance is an instrument through which the EU conducts assessments and analysis of the current situation, points to required reforms, gives recommendations, guidelines and measures as well as support in implementation.

Within its long-term strategy of aligning practices, standards and policies with EU central banking standards, the Central Bank works on strengthening institutional capacities, improving operational efficiency, introducing new rules, policies, changing practices, and further developing and training staff in preparation for accession to the European System of Central Banks (ESCB) once Bosnia and Herzegovina joins the European Union.

In the EU convergence process, EU support through EU funded technical assistance programmes is very important policy tool. Technical cooperation programmes are implemented on a bilateral basis, as well as through regional and multilateral programmes.

Central bank institutional dialogue is the best and most efficient platform for knowledge and experience transfer and highly important instrument for integration into the structures of the European System of Central Banks. The special value of this type of cooperation is the continuous strengthening and deepening of relations within central banking community facilitating adoption of the best EU and international practices.

CBBH Projects implemented in cooperation with ECB and ESCB

Regional Programme „Strengthening the Central Bank Capacities in the Western Balkans with a view to the Integration to the European System of Central Banks“, IPA III, Phase II 2022-2025

The Programme was implemented together with 19 national central banks of the EU, the European Central Bank (ECB), the European Commission, chaired by the Deutsche Bundesbank. The European Union (EU) has allocated €3 million to the programme from its Instrument for Pre-Accession Assistance (IPA II). The aim was to further strengthen the institutional capacities of central banks and supervisory agencies by enhancing their analytical and policy tools with the focus on the integration into the European System of Central Banks (ESCB).

During the programme, the CBBH experts participated in all project activities and exchange of knowledge in key areas of central banking such as financial consumer protection, financial inclusion and financial education, accounting, legal aspects of EU integration, monetary policy and research, payment systems policy, supervisory issues, statistics, and cash management.

Press release available here.

Video: Link

Regional Programme „Strengthening the Central Bank Capacities in the Western Balkans with a view to the Integration to the European System of Central Banks“, IPA II, Phase I 2019-2021

The Programme was implemented through a coordinated approach by the ECB and the 17 central banks of the ESCB and chaired by the Deutsche Bundesbank, for the benefit of central banks and supervisory authorities of Albania, Bosnia and Herzegovina, Montenegro, North Macedonia, Serbia and Kosovo in accordance with UN Security Council Resolution 1244. The European Union has allocated €2 million, from its Instrument for Pre-Accession Assistance (IPA II).

Its purpose was to further strengthen the institutional capacities of Western Balkan central banks and the two banking supervisory agencies in BiH. The specific objective of the Program was to improve regulatory convergence and alignment with EU and international standards in the context of harmonizing legislation with the acquis communautaire, strengthening the function of central banks and banking supervision systems, through enhanced analytical capacities and policies, and, transferring best international and European knowledge and standards into practice in BiH. The Program addressed the following areas: banking supervision, financial stability, financial consumer protection and financial inclusion, recovery and resolution, monetary policy, payment systems, statistics, compliance and EU integration, governance policy, accounting and internal audit.