Almost all projects that ODRAZ Foundation planned to implement in FBiH have been blocked due to Director of ODRAZ Vinko Jakic (re-appointed two months ago under rather dubious circumstances) and his malversations. The projects are funded by local and international financial institutions.
The governing board of the Foundation, more specifically, some of its members, still don't know how to dismiss Jakic due to his strong political connections.
A source from Federal Government tells that Jakic is now presenting himself as an SBB person, one of the three political parties in power in FBiH.
The same source claims that most of ministers from HDZBiH and SDA (with an exception of Minister Edin Ramic) would like to see him dismissed, but are unable to do so because of coalition with SBB whose representative Jakic claims to have become.
Federal Finance Minister Jelka Milicevic, who is also President of Governing Board of ODRAZ, has been lately searching for solution which could mitigate scandals that have shaken up this Foundation. Closing down foundation is also considered.
Contrary to Jakic who has been paying himself 5,000 KM/month, 16 employees of ODRAZ have not received their last 3 salaries.
Foundation for Sustainable Development (ODRAZ) has been an important foundation of Federal Government for the implementation of development and other programs and projects in Federation, ever since 2001.
Programs implemented by ODRAZ have been funded by loans and grants given by international organizations (World Bank, IBRD, EU), as well as local funding sources (Federal, cantonal and municipal budgets).
From 2001 to 2013, The World Bank appraised ODRAZ as one of the most successful foundations of this kind in Southeast Europe. The foundation managed projects with average annual value of over 100 million KM.
It was planned for ODRAZ to commence with implementation of series of local community development projects in FBiH, as well as to activate low interest loans from revolving fund of ODRAZ for small and middle enterprises. However, local and foreign creditors froze the project funding as long as Jakic is on the top of foundation.
However, that did not prevent Governing Board of ODRAZ to re-appoint Jakic to the position of director, with minister Ramic as his greatest supporter, for which he was assigned a VW Passat to use at work.
Cantonal Prosecutor's office in Sarajevo has so far received over 30 complaints against Vinko Jakic, all relating to business malversations and breach of duty.
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