The World Bank said Monday it had decided to double its funding to Bosnia with additional loans worth 200 million dollars (139 million euros) aimed at priority projects in the war-torn country.
"We are talking about (a total) 400 million dollars over the next four years of development projects with assistance from the World Bank," its country manager in Bosnia, Marco Mantovanelli, told journalists.
The funding was in addition to 200 million dollars in loans that the World Bank had already approved for priority projects. The project is aimed at supporting investment in infrastructure, regional development, transport and energy, as well as helping to reform both the private and public sectors.
Bosnia could receive even more funding if it accelerated the reform process, Mantovanelli said. "There is an indication in the strategy that if the capacity to implement pending reforms by the government improves, more funding may be made available," he said.
"We want to link our assistance to reform because the path to Europe will require reforms and we are ready to be partners in this." Mantovanelli said Bosnia would move from soft loans to more commercial deals with the International Bank for Reconstruction and Development during the four-year period.
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