Lagumdžija - Lubeck: Continuation of Investments in Infrastructure and Energy Sector

Deputy Chairman of the Council of Ministers and Minister of Foreign Affairs of Bosnia and Herzegovina Zlatko Lagumdžija received the Director of the International Finance Corporation (IFC) of the World Bank Group for the Western Balkans, Thomas Lubeck, reports the Bosnian news agency Patria.

Lagumdžija discussed with Lubeck the projects that the IFC will implement in Bosnia and Herzegovina in the upcoming period, which primarily relate to strategic sectors key for the long-term development of our country. The interlocutors agreed that the priority should be the continuation of investments in existing infrastructure projects that generate development for both the public and private sectors in BiH, thereby creating conditions for opening new jobs and implementing projects through public-private partnerships.

It was emphasized that combining investment and consulting services, in partnership with domestic companies, in strategic sectors key for the long-term sustainable development of BiH, the focus of IFC activities in our country will be on the financial sector, with special emphasis on small and medium-sized enterprises. Activities will also be focused on securing loans to increase energy efficiency, investing in infrastructure and the energy sector, agribusiness, production with added value of final products, business infrastructure, and the health and education sectors.

Projects of regional significance were particularly considered in light of the European Union's new approach to the Western Balkan countries, which envisions investing one billion euros from EU funds over the next six years, along with an additional 10 billion euros in cooperation with international financial institutions. As priority regional projects, the interlocutors highlighted infrastructure and energy projects, which will further economically connect and strengthen the countries of the region.

Lagumdžija expressed full support for the Strategy and activities of the International Finance Corporation in Bosnia and Herzegovina, as well as the World Bank, which is currently implementing 13 projects in our country worth USD 478.6 million.

Lagumdžija particularly emphasized the significance of and expressed gratitude for the World Bank's readiness and assistance to Bosnia and Herzegovina in mitigating the effects of the catastrophic floods that hit our country in May this year, reports Patria.