The World Bank’s Board of Executive Directors today approved the new Country Partnership Strategy for Bosnia and Herzegovina for the period 2012 – 2015.

The World Bank Group will support reform efforts in Bosnia and Herzegovina in three areas: improving competitiveness of Bosnia and Herzegovina’s economy; social protection and inclusion of the most vulnerable people; and the sustainable use of natural resources.

Over the next four years, Bosnia and Herzegovina will have access to US$148 million of interest-free International Development Association (IDA) resources for investment projects, while the International Finance Corporation (IFC) expects to increase its financing to the private sector to a level of US$ 80 - 100 million. In addition to this, up to US$200 million in International Bank for Reconstruction and Development (IBRD) lending would be made available to support the structural reforms in the country.

“The World Bank remains committed to assisting Bosnia and Herzegovina in addressing its development challenges. The new Country Partnership Strategy reflects priorities of all levels of government in the country, and we in the World Bank Group look forward to the continuation of successful partnership with the authorities and other development partners in improving people’s lives in Bosnia and Herzegovina,” stated Anabela Abreu, World Bank Country Manager for Bosnia and Herzegovina.

The World Bank portfolio of active projects in Bosnia and Herzegovina currently includes 12 operations worth approximately US$302.3 million, World bank announced.