Successfully implemented Program „Strengthening the Institutional Capacities of the Central Banks"

The Central Bank of Bosnia and Herzegovina has successfully implemented all measures, activities and results within the Program, in cooperation with the Deutsche Bundesbank partner team together with 19[1] central banks within the European System of Central Banks (ESCB), the European Central Bank and the European Commission. The final beneficiaries are the central banks of Albania, Montenegro, Serbia, Kosovo, Northern Macedonia, Bosnia and Herzegovina and the entity banking agencies in BH. The goal of the Program is to further strengthen the institutional capacity of the central banks of the Western Balkans and the two banking supervison agencies in Bosnia and Herzegovina, primarily through strengthening analytical capacities and policy-making tools, and adopting the best international and European standards. The European Union, from the Instrument for Pre-Accession Assistance (IPA II), has allocated 2 million euros for the implementation of activities in the Program during 33 months.

On 16 December 2021, the Deutsche Bundesbank organized the final meeting where Professor Joachim Wuermeling, Member of the Executive Board of the Deutsche Bundesbank, underscored: “This programme is a prime example of a truly collaborative approach from the ESCB. By acting collectively and in unison, the ESCB has proven itself to be a strong partner in the central banking community and stands ready to support our colleagues from the Western Balkans in their efforts to achieve the highest standards for the benefit of their economies and their people.” Mr Florian Hauser, Team Leader in the European Commission’s Directorate General for Neighbourhood and Enlargement Negotiations, underlined: “The programme represents an important contribution to improving economic governance in the Western Balkans. It supports the preparation of central banks in the Western Balkans for their integration into the European System of Central Banks.”

The Program is implemented through seminars, trainings, workshops, bilateral measures and internships in 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. Though being carried out under the extraordinary circumstances caused by the pandemic, the Program was successfully implemented in full.

The following link contains a short film with feedback and impressions of the participants in the Program:

https://www.bundesbank.de/en/bundesbank/international-central-bank-dialogue/eu-funded-projects/eu-funded-projects--618392

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[1] Nationale Bank van België, Българска народна банка, Česká národní banka, the Bank of Greece, the Banco de España, the Banque de France, Hrvatska narodna banka, the Central Bank of Ireland, the Banca d’Italia, Lietuvos bankas, the Banque centrale du Luxembourg, the Magyar Nemzeti Bank, De Nederlandsche Bank, the Oesterreichische Nationalbank, Narodowy Bank Polski, the Banco de Portugal, Banca Naţională a României, Banka Slovenije and Národná banka Slovenska.