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EBRD shareholder representatives visit Bosnia and Herzegovina
Representatives of the shareholders of the European Bank for Reconstruction and Development begin a three-day visit to Bosnia and Herzegovina (BiH) on Wednesday. The Board of Directors represents the Bank's 62 public shareholders and approves all Bank projects. The goal of the visit is to learn more about the state of reforms and economic transition in the country as it continues its transition towards a market economy.
Representatives of the Board in the delegation will be Ayse Donmezer, representing Turkey, Switzerland, Liechtenstein, Uzbekistan, Kyrgyz Republic, Azerbaijan, Turkmenistan, and Serbia and Montenegro; Leon Herrera, representing Spain and Mexico; Kalin Mitrev, representing Bulgaria, Poland and Albania; Michael Neumayr, representing Austria, Israel, Cyprus, Malta, Kazakhstan, and Bosnia and Herzegovina; Igor Ocka, representing Hungary, Czech Republic, Slovak Republic and Croatia; Desmond O’Malley, representing Ireland, Denmark, Lithuania, and FYR Macedonia; Hidde van der Veer, representing the Netherlands and Mongolia; Gerd Saupe, representing Germany; and Mark Sullivan, representing the United States. They will be accompanied by Jean-Marc Peterschmitt, EBRD Director for the Western Balkans and Serban Ghinescu, head of the Bank’s office in BiH.
The visit will give the Board members an opportunity to meet the Prime Ministers at State and Entities levels, representatives of other international organisations, as well as Paddy Ashdown, High Representative in BiH. They will also visit several projects in which the Bank has invested.
The EBRD recognises Bosnia and Herzegovina has made significant strides towards establishing a market economy, but says a great deal remains to be done if its economic progress is to become more sustainable. In its latest strategy for the country, issued in June, the Bank says its priority will be to help strengthen and develop the private sector, to work with the authorities to boost large-scale privatisation and provide financial support to strong domestic and foreign enterprises. The Bank also calls on the two entities making up Bosnia and Herzegovina – the Federation of Bosnia-Herzegovina and the Republika Srpska – to deepen their common approach to economic development and improve the free flow of trade and investments in the wider region.
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