TUZLA, Bosnia (November 24,2008) - The European Bank for Reconstruction and Development (EBRD) will maintain strong presence in Bosnia, and continue to endorse banks, microfunding organizations, the financial sector and all the other elements of the Bosnian economy, the head of the bank’s country office Giulio Moreno has announced.
However, he has also said, EBRD’s capacities are limited, and the Bosnian government need to take appropriate measures. Speaking at a Tuzla conference about the effects of the global financial conference, Moreno said that the Bosnian authorities have several typical steps at their disposal in times of crisis, and one of them are tax benefits on new investments.
All the other measures boosting the purchasing power are also a part of that. He expects big problems in Bosnia’s real economy, and not so much in banking and financial sectors.
The EBRD is owned by 61 countries and two intergovernmental institutions. Despite its public sector shareholders, it invests mainly in private enterprises, usually together with commercial partners.
EBRD provides project financing for banks, industries and businesses, both new ventures and investments in existing companies. It also works with publicly owned companies to support privatization, restructuring state-owned firms and improvement of municipal services.
The following countries are members and recipients of investments : Albania, Armenia, Azerbaijan, Belarus, Bosnia, Bulgaria, Croatia, Estonia, Georgia, Hungary, Kazakhstan, Kyrgyzstan, Macedonia, Moldova, Mongolia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan.