VMBiH SUPPORT FOR STRENGTHENING AGRICULTURE

The Council of Ministers of BiH has determined the Proposal of the Loan Agreement between Bosnia and Herzegovina and the International Bank for Reconstruction and Development for the Project of Resilience and Competitiveness of Agriculture, which aims to increase the competitiveness of this sector in the European Union market.
The aim of the project is to increase the resilience of the agricultural sector to economic, climate and other changes, which will contribute to increasing the competitiveness of agriculture, but also better quality and food safety.
The loan is worth 61.4m euros and will be allocated in equal amounts of 30.7m euros to the Republika Srpska and the Federation of BiH. The Entities will allocate EUR 1,576,000.00 of these funds to the Ministry of Foreign Trade and Economic Relations for strengthening the capacity of the agricultural information system, upgrading veterinary IT systems, phytosanitary and food safety systems.
It is a very favorable loan with a repayment period of 32 years, including a seven-year grace period.
The draft agreement with the Basis for Conclusion will be submitted to the Presidency of BiH for further procedure, and the Minister of Finance and Treasury has been proposed as the BiH signatory.