EUR Five Million Contract Signed with EBRD



Deputy Chairman of the Council od Ministers of BIH and Minister of Finance and Treasury dr. Nikola Špirić and President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabrati signed, on July 2, 2013 a Loan Contract worth EUR 5 million for the water supply and sanitation pipelines reconstruction in the Municipality of Cazin.

Minister Špirić stressed that the loan term is 15 years, with 5 year grace period and 0.5 per cent interest rate.

“These funds will be accompanied by grants in amount of EUR 3.5 million from Netherlands and EUR 2.5 from Sweden”, Minister Špirić underlined.

Chakrabrati added that this project will include the collection of waste waters and their purification, which should substantially improve the sanitation pipeline in the Municipality of Cazin.

He said that the EBRD has invested in BIH about EUR 1.5 billion thus far and that UER 120 million were placed in BIH last year, while the amount for this year is expected to reach EUR 150 million.

Minister Špirić pointed at the high level of realisation of EBRD resources, adding that about EUR 8000 million were realised thus far though 100 investment projects, while 11projects are in the phase of negotiations and implementation.

“Our goal is to maintain the EBRD investment activities into well selected projects to boost strongly BIH economic growth, including the regional economic growth through regional projects” Minister Špirić said. (end)