Wednesday, August 27, 2008


SARAJEVO, Bosnia (August 27,2008) - On 1 September the European Bank for Reconstruction and Development (EBRD) President Thomas Mirow begins a three-day trip to the southeastern Europe, his first visit to the EBRD region as head of the Bank.

The visit underscores the increasing importance the EBRD attaches to strengthening policy dialogue with the countries in the region and supporting their further development.

"The EBRD welcomes the progress the region has made in implementing key reforms and the encouraging increase in cross-border cooperation and investment that have bolstered recent growth across the southeastern Europe," EBRD said in a press release.

"In Bosnia and the region, the Bank will continue to play a crucial role by investing alone and together with other foreign investors. Key targets for investment to support the development of the regional economies include transport and municipal infrastructure, energy, as well as the agribusiness and private sectors. The EBRD will continue to stimulate regional economic integration, to help make markets more competitive, to improve quality and to reduce the cost of services, which is key for integration into the broader European and global markets,"EBRD said.

During the visit to Bosnia, Mr Mirow will meet Bosnian senior government officials, business partners and international envoys. In the Bosnian capital Sarajevo,Mirow will sign a €3 million loan to the microcredit organization MI Bospo and a €6 million loan to a local agribusiness enterprise, Bimal.

The EBRD is the largest institutional investor in the southeastern Europe, having invested more than €4.9 billion in sectors including infrastructure, energy, the financial sector and the private corporate sector, especially small and medium size enterprises.

The Bank has to date invested €762 million in 69 projects in Bosnia.

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