SARAJEVO, Aug 30 (Hina) - The World Bank will reduce financial assistance to Bosnia-Herzegovina if by the second half of next year the country fails to implement economic reforms which should attract foreign investments, the World
Bank's regional coordinator for South-East Europe, Christian Poortman, said on Thursday. Speaking at the end of his three-day visit to Bosnia, Poortman told reporters in Sarajevo the World Bank was directly supporting reforms in Bosnia with some USD 100 million, but the assistance would be called into question if urgent and dramatic changes were not made. The country must create an atmosphere which is favourable for private investments and entrepreneurship, said Poortman, who is also WB director for Bosnia-Herzegovina, based in Washington. The Bank is particularly dissatisfied with the slow reorganisation and privatisation of banks in the country, with the Serb entity considerab
SARAJEVO, Aug 30 (Hina) - The World Bank will reduce financial
assistance to Bosnia-Herzegovina if by the second half of next year
the country fails to implement economic reforms which should
attract foreign investments, the World Bank's regional coordinator
for South-East Europe, Christian Poortman, said on Thursday.
Speaking at the end of his three-day visit to Bosnia, Poortman told
reporters in Sarajevo the World Bank was directly supporting
reforms in Bosnia with some USD 100 million, but the assistance
would be called into question if urgent and dramatic changes were
not made.
The country must create an atmosphere which is favourable for
private investments and entrepreneurship, said Poortman, who is
also WB director for Bosnia-Herzegovina, based in Washington.
The Bank is particularly dissatisfied with the slow reorganisation
and privatisation of banks in the country, with the Serb entity
considerably lagging behind the Croat-Muslim entity.
Between 1996 and 1999 Bosnia-Herzegovina received 5.1 billion
dollars in direct financial assistance from foreign countries.
(hina) sb rml