250,000 KM needed to dissolve the Federal Fund for Assistance to Areas Affected by Natural Disasters

The Government of the Federation of Bosnia and Herzegovina has established a Proposal for a Law on the Cessation of Validity of the Law on the Establishment of the Federal Fund for Assistance to Areas Affected by Natural Disasters in the territory of the Federation of BiH.

The Federal Government will undertake all activities related to the dissolution of the Fund, in accordance with applicable federal regulations.

For the implementation of this law, it will be necessary to secure funds from the Budget of the Federation of BiH in the amount of approximately 250,000 KM for the purpose of settling the Fund's outstanding obligations regarding employee salaries, as well as recorded obligations towards suppliers, as of December 31, 2017.

As explained, Article 17 of the Law on the Establishment of this Fund stipulates that, upon the cessation of the need for its operation, the Parliament of the Federation of BiH, upon the proposal of the Government, shall adopt a regulation governing its further status and the financial assets found in the Fund's account at that time.

Since three years have passed since the establishment of the Fund and the need for its further operation has ceased in the meantime, taking into account cost rationalization, activities have been undertaken to prepare the legal prerequisites for the dissolution of this institution.

In accordance with this, the Management Board of the Federal Fund for Assistance to Areas Affected by Natural Disasters in the territory of the Federation of BiH, at its 13th session held on December 16, 2016, requested that the Government of the FBiH initiate activities for its dissolution.

At the head of this Fund was Jasmin Jaganjac.