The European Bank for Reconstruction and Development and Bosnia and Herzegovina have agreed to work together to further develop the transparency and efficiency of public procurement processes.
A Memorandum of Understanding (MoU) signed between EBRD President Sir Suma Chakrabarti and the Chairman of the Council of Ministers of Bosnia and Herzegovina, Vjekoslav Bevanda, focuses on the development of a stable and accountable framework that will enable integrity of public spending.
Under this partnership, the EBRD will provide capacity building programmes, technical assistance, methodological assistance, and also facilitate the exchange of expert surveys and consultants’ reports to help Bosnia and Herzegovina adopt international best practices and enhance institutional competitiveness.
The framework aims to strengthen cooperation between the Bank and authorities in the areas of policy-making, regulation of utilities and natural monopolies and monitoring of public procurement, including public-private partnerships (PPPs). The MoU builds on the extensive policy dialogue already undertaken by the EBRD in public procurement.
“This is a very important step forward for Bosnia and Herzegovina. It strengthens the legal framework, helps promote good governance and encourages efficient use of funds. We stand ready to support the authorities in creating a stable and accountable public procurement framework,” the EBRD President said.
Since it started operations in Bosnia and Herzegovina, the EBRD has invested more than €1.6 billion in more than 110 projects. The Bank invests in infrastructure development, support for small and medium-sized enterprises, and strengthening the financial sectors.