FORBES MAGAZINE: BOSNIAN MICROFINANCIAL ORGANIZATIONS ARE AMONG THE BEST IN THE WORLD

SARAJEVO, Bosnia (January 5,2008) – The Forbes Magazine announced a list of ten most successful microfinancial institutions in the world.

Five members of the Bosnian Association of Microfinancial Organization(AMFI),namely, “Eki”, “Partner”, “Mikrofin”, “Mi Bospo” and “Sunrise”, were included.

Nomination criteria were the size of loan portfolio, efficiency related to operative expenditures and loan consumers’ expenses related to the GDP of a country, as well as risks related to portfolios’ quality and action and property capital. Bosnia has proven to be the best in all fields.

This is another in the series of successes of the Bosnian microfinancial institutions.

In the past few years, the AMFI has won a number of certificates and awards for a high level of transparency in business and financial reports, as well as awards for the best microfinancing practice awarded by the UNDP at the UN’s World Microloan Year.

There are 11 members of the Bosnian Association of Microfinancial Organizations; all of them doing business in accordance with the world’s best standards. They offer services to 270.000 active clients.

The AMFI members conduct business through 400 branches throughout Bosnia and 1.500 Bosnian citizens are employed in the sector.

BOSNIAN STATE COURT CONFIRMED INDICTMENT AGAINST SERBIAN WAR CRIMINAL NOVAK DJUKIC

SARAJEVO, Bosnia (January 5,2008) – The Bosnian State Court has confirmed the indictment against a former leader of the genocidal paramilitary formations of the Serbians living in Bosnia (VRS),who is charged with war crimes committed during the 1992-1995 Serbian aggression against Bosnia.

Serbian war criminal Novak Djukic is charged with ordering the shelling of the eastern Bosnian city of Tuzla in which 71 Bosnian civilians were killed in 1995.

In addition to those killed, 240 Bosnian civilians were injured in the indiscriminate shelling of Tuzla, which was at the time a UN-designated “safe area” in north-eastern Bosnia.

The second count contained in the indictment charges Serbian war criminal Novak Djukic with having issued the order for the "firing of nine artillery projectiles" at Tuzla, which hit the bus station - killing one person - the iron foundry and a few more objects, which were severely damaged.

During the investigation conducted by the Bosnian State Prosecutor, Serbian war criminal Novak Djukic confirmed that he was commander of a genocidal Serbian aggressor's unit at the referenced time and that he "was in charge of approving the use of 130mm caliber cannons".

In the course of the investigation, the Prosecution of BiH examined some other Serbian war criminals who confirmed that "Djukic was the commander in the referenced period and that he issued the order for firing of grenades at Tuzla city".

The Bosnian State Investigation and Protection Agency (SIPA) arrested Serbian war criminal Novak Djukic on November 7 last year. He has been held in custody since then. By the Bosnian law, Djukic is due to attend a plea hearing within the next 15 days.

BOSNIA JOINS CENTRAL EUROPEAN EXCHANGE PROGRAM FOR UNIVERSITY STUDIES

SARAJEVO, Bosnia (January 5,2008) – The Bosnian Ministry of Civil Affairs completed the procedure on the signing of the Agreement on Accession to the Central European Exchange Program for University Studies (CEEPUS) which enables academic exchange of students and professors from the region of central and eastern Europe, consisted of 15 countries.

The Bosnian Deputy Minister of Civil Affairs Senad Sepic stated that the goal of the program is to promote the network of central European universities, stimulate academic mobility, especially students from central Europe, as well as developing mutual programs which would lead towards issuing joint or common diplomas for the students participating in the exchange network.

Sepic added that "CEEPUS is based on the strengthening the university network in these countries and in the future we can expect that the large number of Bosnian students, as well as professors shall stay and continue their professional training in desired sectors, which would in general strengthen our position in future reforms and integrations’’.

INITIATION OF INTEGRAL PRODUCTION IN MITTAL STEEL ZENICA AIMS TO EMPLOY UP TO 4.500 WORKERS

ZENICA, Bosnia (January 5,2008) – Mittal Steel Zenica Union President Islam Imamovic stated that the initiation of integral production, which is expected to begin during 2008, shall create conditions for employment of approx. 4.000 to 4.5000 workers.

“During this year, we plan to sign the annex to collective agreement and to start negotiations on the new labour prices sometimes in June,"Imamovic stated.

Mittal Steel Zenica is one of the biggest steel mills in the southeastern Europe.

1.607 PEOPLE FELL VICTIMS TO MINES IN BOSNIA SINCE 1996

SARAJEVO, Bosnia (January 5,2008) - 30 people fell victims to mines in Bosnia in 2007 – eight of them were killed. These are the data presented by the Bosnian Mine Action Centre (BHMAC).

Five civilians were killed and three members of mine disposal teams in 2007. 22 persons were injured, four of them members of mine disposal teams.

4.953 people fell victims to mines in Bosnia since 1992. From 1996, 1.607 victims of mines were registered.

According to the BHMAC, 1.806 square kilometres of land in Bosnia is suspected of being covered with mines. The number of locations reaches 13.077 with 220.000 mines and other unexploded ordinances.

ALUMINIJ MOSTAR REPORTED RECORD ANNUAL PRODUCTION IN 2007

MOSTAR, Bosnia (January 5,2008) - Bosnia's sole aluminium plant Aluminij Mostar, which is facing privatisation to a strategic investor in coming months, reported yesterday record annual production of 121,750 tonnes of metal in 2007.

Exports of 240 million euro ($353.3 million) remained at the same level as in 2006 because of the lower prices of aluminium on the world market, General Manager Mijo Brajkovic told a news conference.

Brajkovic said the company has invested about $15 million in the modernisation of its aluminium foundry and planned to complete a $45 million modernisation of its anode plant in mid-2008, which would boost output by 15,000 tonnes a year.

"With this modernisation of the anode plant ... Aluminij will very soon reach an output of 135,000 tonnes of aluminium," Brajkovic said.

The privatisation of the plant, based in the southern Bosnian town of Mostar, was launched last year and three bidders shortlisted for an 88 percent stake equally owned by the FBIH entity government and small shareholders.

The minimum price of the stake is 76.8 million Euros.

All bidders - Swiss-based commodities trader Glencore GLEN.UL, Britain's En+ Group and Greek metals, energy and engineering group Mytilineos - have conditioned the bids on cheap power supplies which the government is unlikely to approve.

Brajkovic said that the commission for the privatisation of Aluminij would talk on Jan. 22 to Glencore, in a consortium with one local and one Croatia's firm which was ranked best bidder, to discuss terms of the sell-off agreement.

The commission's head Enes Ganic has said that some bidders had linked the power cost with the price of aluminium on the London Metal Exchange MCU3 and conditioned future investment on low power prices.

Ganic said that only the government could decide whether to annul the tender or subsidise Aluminij, if it considered the privatisation to be of strategic importance.

Brajkovic said that a future buyer should invest some 300 million euros but that the government first needed to guarantee the regular power supplies.

The Mostar-based power company announced last month it would cut power supplies to Aluminij by 40 megawatts in 2008.Brajkovic said that power cuts may result in reduced output and lay-offs, and in the failure of the privatisation process.

"We can manage to continue with production this month but you cannot tell buyers that you don't have secured power supplies and expect them to invest 300 million euros," he said.