The CBBH Invited the EBRD to Continue its Activities in BH

The Governor of the Central Bank of Bosnia (CBBH) Kemal Kozarić and Vice Governor Ljubiša Vladušić talked today, September 3, 2008, in Sarajevo with the delegation of the European Bank for Reconstruction and Development (EBRD), led by newly appointed President of the EBRD, Thomas Mirow.

During the discussions, Governor Kozarić encouraged the EBRD to continue their investment in BH, pointing out possibilties in the private sector, particularly small and middle companies, small producers of food, infrastructure, energy potential, as well as, microcredit organizations.

Along with this, he also emphasized the need for further continuation of privatization process, particularly given companies in which the state holds less than 50% of the managing rights, as well as, the insurance sector, believed to be the next area of the financial sector, which should be privatized.

There is room for investment within BH and further indebtedness, as BH falls under the category of moderately indebted countries, where external liabilities account for approximately KM 4 billion, the Governor said.

The CBBH believes that the EBRD has good investment policy and supports its continued activities in BH. The fact that BH is amongst the first countries visited by this Bank delegations is an indicator that the country is recognised as a favourable region for investment, but at the same time it must continue to work on improving conditions for new investments.

The EBRD delegation is visiting BH in order to recognize improvements in transition processes within the country, and to estimate the influence of the Bank activities in this process.

The EBRD has been active within BH since 1996, and it is one of the biggest investors, with 69  realized projects worth over 762 million Euros.

 Public Relations Section