prijava
SARAJEVO, August 14 (FENA) - Funds from the International Monetary Fund (IMF) approved for emergency aid to BiH to help the health sector and economy in dealing with the epidemic and disease COVID-19 were paid into the deposit account of Sarajevo Canton today, said SC Minister of Finance Jasmin Halebić.
The money had already been paid into the account of the Central Bank of BiH, but for distributing to lower levels of government it was necessary for the Council of Ministers to make a decision on the distribution of funds.
Today, the amount of 36,178,423 KM was allocated to the Ministry of Finance of SC from the level of FBiH to the deposit account for public revenues of SC. The largest part of that amount is planned as financial support of 20 million KM for the economy, in the form of payment of part of salaries to workers whose companies have suffered a significant reduction in income in the past few months.
The funds are also intended to support industrial production, youth employment and servicing debts from the previous period.
Minister Halebić previously announced that a credit-guarantee fund will be formed from the funds from the IMF, and the SC Government will determine the criteria for its implementation.
The BiH Ministry of Finance and Treasury distributed funds in accordance with the decision of the BiH Fiscal Council, the signed Letter of Intent and the Memorandum of Understanding in the following proportions: 37.5 percent for the BiH entity of RS, 61.5 percent for the FBiH entity (with ten cantons), and the money belonging to the Federation of BiH was divided in such a way that 50 percent remained at the FBiH level and 50 percent was distributed to the cantons, with the FBiH and RS allocating 1 percent of their amounts for the Brčko District.
By the end of this year or early next year, depending on the time of signing a memorandum of understanding for the macro-financial assistance program (MFA) between BiH and the European Commission on behalf of the EU, BiH expects 250 million euros, the largest amount of funding from all countries in the region.
The agreement is part of an MFA package of three billion euros for ten enlargement partners and neighboring countries, aimed at easing the expected recession due to coronavirus pandemic.
If the memorandum and agreement for BiH could be completed in September, the first tranche, representing half of the amount (125m euros), would be disbursed at the end of this year or the beginning of next. The second tranche would go after the fulfillment of certain conditions, announced the PR Office of the Sarajevo Canton.
(FENA) A. B.
