Ambassador Dimitris Kourkoulas, Head of Delegation of the European Union to BiH and Dragan Vrankic, Deputy Chairman of the Council of Ministers of BiH and Minister of Finance and Treasury, signed on 1 December 2009 Financial Agreement IPA 2009 Anti-crisis package worth 39 million euro, at the BiH Institutions building in Sarajevo.

„This is a solidarity package which will enable BiH overcome and respond to the  global economic crisis. This grant contribution represents a trigger for substantial finances through loans from international financing institutions, such as the European Investment Bank and the European Bank for Reconstruction and Development “ – stated Ambassador Kourkoulas at the press conference after the signing of the Agreement.

He emphasised the excellent cooperation with all ministers at all levels of authorities in BiH and thanked the BiH authorities for the quick endorsement and ratification of the programme, although it was a complex procedure.

„I would like to emphasise two positive things. First was the decision made by the EU Council of Ministers yesterday on approving the macro-financial assistance in the form of loan to BiH, worth 100 million euro for the year 2010. These funds will be in support to the International Monetary Fund (IMF) stand-by arrangement. And second, I would like to emphasise the importance of today’s date as the Lisbon Treaty enters into force. From today, the High Representative for Foreign Policy will be a person responsible for EU’s foreign policy which will bring more coherence in the relations between the EU and BiH” – stated Ambassador Kourkulas.

„The funds will be used for supporting development of small and medium enterprises, significant investments in the transport, environment and energy sectors and for projects increasing the coverage of the deposit insurance “ – stated Minister Vrankić and thanked the EC for the support.

„This is the first part of the project. The second part of the IPA project is worth 41,5 million euro and the EC also provided support for IPA 2010. We are grateful for the assistance as the financing  into the infrastructure is the best assistance for the economy of a country, especially under the circumstances when the foreign investments are reduced “ – stated Vrankić.

This assistance is a part of the European Economic Recovery Plan which was announced by the European Commission in November 2008.