EU Allocates 51 Million Euros for Flood Recovery Projects

The Council of Ministers of Bosnia and Herzegovina has determined the Draft Agreement on Financing the Program of Special Measures for Flood Recovery and Flood Risk Management – the part relating to Bosnia and Herzegovina between the European Union, represented by the European Commission, and Bosnia and Herzegovina, represented by the Directorate for European Integration of the Council of Ministers of Bosnia and Herzegovina, reports the Patria News Agency. 

This is an Agreement worth 51 million euros, of which five projects worth 41 million euros will be implemented in BiH, and one project will be carried out within the multi-state program "Regional Flood Recovery and Improvement of Flood Protection Infrastructure in the Sava River Basin" in the amount of 10 million euros. No financial contribution is expected from Bosnia and Herzegovina as a beneficiary of the program.

Individual contracts implementing this agreement will be concluded no later than three years and must be executed no later than six years from the date of conclusion of the Agreement on Financing the Program of Special Measures for Flood Recovery and Flood Risk Management.  

The Ministry of Finance and Treasury will submit the Draft Agreement to the Presidency of BiH with the Basis for its conclusion, and the proposed signatory for BiH is the Director of the Directorate for European Integration of BiH, it was announced from the Council of Ministers of BiH.