EU is redirecting 18m euros from IPA II for BiH’s economic recovery

EU is redirecting 18m euros from IPA II for BiH’s economic recovery

SARAJEVO, June 11 (FENA) – The Council of Ministers of BiH has determined the Proposal of Amendment I to the Agreement on Financing the Annual Action Program for Bosnia and Herzegovina for 2019, between the European Union (EU), represented by the European Commission, and Bosnia and Herzegovina, represented by the Directorate for European Integration of the Council of Ministers of BiH, with the Basis for its conclusion.

With this amendment, the European Union wants to provide funds to support BiH’s economic recovery after the COVID-19 pandemic, by introducing two new action plans, namely “EU4 small and medium enterprises” with a budget of 14 million euros and “EU4Trade” with a budget of four million euros. These funds have been reallocated from the “EU4Energy” and “EU4Transport” activities.

At the same time, the total value of the annual action program for BiH remains the same and amounts to EUR 85,490,154, as well as the total EU contribution in the amount of EUR 81,898,200.

The Ministry of Finance and Treasury will submit the Proposal of that amendment to the Presidency of BiH for further procedure, said the CoM.