Bosnia and Herzegovina

EU to aid Bosnia-Herzegovina with 49.4 million euros

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BELGRADE, Jul 25, 2005 (Xinhua via COMTEX) -- The European Union (EU) formalized a deal on Monday with Bosnia-Herzegovina to offer 49.4 million euros (59.5 million US dollars) to fund the latter's government reforms and economic development, reports from Sarajevo said.

Under the deal, 31.4 million euros (37.7 million dollars) will be used to fund reforms in Bosnia-Herzegovina's government bodies and the justice departments, while the rest of the money will go to economic and social developments, including offering assistance to refugees and forming an independent media sector.

The report also said the aid for Bosnia-Herzegovina was part of an EU plan for reconstruction, development and stability which was approved in June, 2000.

Under the plan, which also covers countries such as Serbia-Montenegro, Macedonia, Albania and Croatia, the EU will provide a total of 4.65 billion euros (5.58 billion dollars) from 2000 to 2006 in aid for the reconstruction efforts in these Balkan countries.

The money was previously mainly used for humanitarian aid, but as of this year the aid strategy began to cover areas such as reforms of government departments, the democratization process, human rights and market economy, the report said.