ENP Newswire - 24 January 2014 Release date- 22012014 - The EBRD Board of Directors has adopted a new strategy for Bosnia and Herzegovina which sets out the Bank's priorities in the country for the next three years. The new strategy underlines the role of the private sector in improving peoples' lives and stresses the EBRD's commitment to support its development and growth for the benefit of the country's entire population. In the new strategy the EBRD sets out priorities to support private sector development for which improving the business environment is seen as critical. The EBRD will focus on internal economic integration of the country, its integration in the region and will continue to coordinate its activities with the EU and IFI partners. In the new strategy period the EBRD will focus on addressing the following challenges: Restructuring and expansion of the local private sector: The EBRD will target local and foreign companies for investments in the country and provide financing for restructuring and expansion of smaller local companies. The Bank will provide SME credit lines through local banks, microfinance loans and non-financial support. Forging closer linkages with wider regional markets: The EBRD will support private investments, increased trade flows and infrastructure improvements deepening regional integration. The Bank will encourage greater private sector involvement in public infrastructure upgrades and put a strong emphasis on improvements of standards towards EU norms. Promoting a more efficient and sustainable use of resources: The EBRD will provide financing for energy and resource efficiency improvements for large corporate clients in the private and public sectors and for the restructuring and commercialisation of municipal utility companies and continue an active policy dialogue. To date, the EBRD has invested more than EUR1.6 billion , in some 110 projects in Bosnia and Herzegovina , with a focus on infrastructure development, support for small and medium-sized enterprises, and strengthening the financial sector.
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