“Central Bank of Bosnia and Herzegovina is one of the first and most successful state institutions but it also has to evolve and to improve its operations in order to meet the challenges of developing economies and European integration”, stated Mr Johann Hesse, Head of Operations Section for Economic Development, Trade and Natural Resources, EC Delegation to BiH, at the press conference, organised on 2 September 2009 to mark the start of the EU funded project “Capacity building of the Human Resources Department of the Central Bank of BiH”.

The implementation of this Twinning light project started on 1 September 2009, the Deutsche Bundesbank and Czech National Bank will help Central Bank of Bosnia and Herzegovina establish a modern system of human resources management in accordance with European standards, stated Mr Hesse.

He explained that this Twinning project will bring expertise from the EU Member States with human resource management skills and knowledge, who will help BiH in the development of a modern and efficient administration needed to implement the EU legislation to the same standards as in the EU Member States.

Mr Kemal Kozarić, Governor of the Central Bank of BiH, expressed his gratitude to the European Commission for the assistance provided for the implementation of this project.

“As a part of its long-term strategy, the Central Bank of BiH plans to develop and improve its activities in all areas, especially in the area of human resources development, as one of our most important goals. The objective of this project is to increase the efficiency and to develop a modern human resources management system because we are aware that an institution cannot be successful if it does not invest in its human capacities. We are a very small central bank with 320 employees, out of which around 70% has higher education. Therefore we think that the investment in people is the best business investment and that is why we decided to implement this Twinning light project. This project will be finalised next year with international conference, when we will present, I hope, successful results” stated Mr Kozarić.

The European Union provided 250.000 € for this Twinning light project through its IPA funds, while the Deutsche Bundesbank and the Czech National Bank will provide qualified and experienced experts.

Twinning is an instrument used in the context of EU assistance for candidate countries to strengthen their administrative and institutional capacity in preparation for membership of the European Union. It has become available also for potential candidates to help them adapt their administrations to implement the aquis communautaire and take on the obligations that future membership will bring.

Twinning not only provides technical and administrative assistance to the beneficiary country but also helps to build long-term relationship between the old, new and future EU member states and brings the beneficiary country into wider contact with the diversity of administrative practices inside the EU.