Bosnian PM meets World Bank economist on development loan talks.

By bne IntelliNews January 31, 2013
Bosnian PM Vjekoslav Bevanda met in Sarajevo World Bank economist Abebe Adugna on Wednesday, Jan 30, in order to continue discussions on the countrys development policy loan (DPL) programme with the global lender, a statement posted on the governments website read. The programme comprises three DPL series with each of them containing certain requirements that need to be fulfilled for the approval of the next one. The World Bank approved the first DPL to Bosnia worth USD 100mn in 2010, while the remaining two are envisaged for 2012 and 2013. According to Vjekoslav Bevanda, the first loan contributed significantly to mitigate the effects of the global economic crisis while important reforms were achieved in the fields of legislation and finance, public spending and social benefits. Bevanda and Adugna held talks on the reforms needed for the activation of the new DPL, including the expected time frame within which the authorities could implement them. They also discussed the set of proposed reforms by the two entities of Bosnia and Herzegovina the Federation and the Serb Republic. In particular, the Federation requested the World Bank assistance for the implementation of its pension reform strategy, while the Serb Republic is preparing a health care reform, the statement said. Both entities are interested in improving the business environment via these reforms. However, the World Bank representatives expressed concern over the pension reform measures proposed by the Federation and underlined that developing a reform strategy is not a sufficient condition for obtaining financial assistance.

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