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World Bank in Bosnia and Herzegovina: Leading Post-Conflict Reconstruction

The World Bank has played a major role in post-conflict reconstruction in Bosnia and Herzegovina, lending over $1 billion and leading efforts in housing, infrastructure, microfinance, cultural heritage, and financial sector reform. It has also been a skilled facilitator in mediating discussions between warring parties. The World Bank continues to partner with Bosnia and Herzegovina on EU integration and effective labor market programs.

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World Bank in Bosnia and Herzegovina: Leading Post-Conflict Reconstruction

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  1. The World Bank in Bosnia and HerzegovinaLeader in post-conflict reconstruction - Partner in EU integration

  2. A leader in post-conflict reconstruction 1996-2002 • Lending: over 1B up to 2002 • Housing: Over 20,000 apartment units and 2,000 houses repaired • Road and Infra: 2,300 kilometers of roads, 41 bridges, 3 tunnels, Sarajevo’s Intl Airport rebuilt • Microfinance and employment: 200,000 jobs created or supported; 350,000 microcredits disbursed (50% women) • Cultural heritage/reconciliation:Mostar old bridge • Financial sector: successfulprivatization led to establishment of sound banking system • Catalyst and skilled facilitator: “In 1995, there was no way the warring parties could discuss reconstruction; they could not even agree where the discussion should be located. It took the Word Bank’s mediation to focus the Bosnians on practical problems: Should there be a central bank? How to reconcile conflicting tax and customs systems?” S.Mallaby ,The World’s Banker (2004). Partner in EU Accession Effective labor market programs introduced, 10,000 hard-to place job-seekers employed, National forest inventory completed; Backlog of real estate transaction reduced and 80% of cases processed within 5 days; 6 sanitary landfills in line with EU standards operating; 144 wild dump-sites sanitized; local level infrastructure continuously improved; introduction of “family medicine” for 70% of population • Global Crisis Response • Budget Support: reform of the long-standing but fiscally unsustainable and socially regressive system of rights-based social benefits • SME Line of credit

  3. WB's country partnership strategy today

  4. STATUS OF PORTFOLIO

  5. Bidding/Consulting opportunities • Invitations to bid or express interest for contracts under World Bank-financed projects can be found at: • The United Nations produces UN Development Business which provides information on business opportunities generated through the World Bank, regional development banks, and other development agencies. Development Business is available in either print format or by online subscription. For more information contact the Development Business Liaison Office at Tel: (202) 458-2397; Fax: (202) 522-3316 or E-mail: dbusiness@worldbank.org.     • The Development Gateway Market (dgMarket) is a global online marketplace providing information on donor and government-funded tenders. Currently, dgMarket publishes tender notices for projects funded by the African Development Bank, the Asian Development Bank, Europe Aid, European Bank for Reconstruction and Development, European Investment Bank, EU members states, IPA, and the World Bank. For more information, contact: info@dgmarket.com.

  6. Centre for Financial Reporting Reform - Vienna • A World Bank initiative supported by the Government of Austria (see worldbank.org/cfrr) • A knowledge hub using advanced communication and learning tools (distance learning, social learning) and international benchmarks (EU acquis, International Financial Reporting Standards, International Standards on Auditing…) • Assisting partner countries to respond to the challenges of a high quality implementation of EU acquis communautaire and best practicesin the field of corporate financial reporting • Towards facilitating investment through enhancing quality and availability of companies’ financial statements

  7. CFRR Programs • DIAGNOSTIC WORK: Accounting & Auditing ROSC review legislation, institutional framework and actual practice (review of financial statements) • REGIONAL SUPPORT: • REPARIS (Road to Europe program for accounting reform and institutional strengthening) for South East Europe supporting implementation of reforms at national level • TA for enhancing the institutional capacity of New EU Member States to implement the acquis communautaire • COUNTRY LEVEL SUPPORT: Design of, and implementation support to, country action plans and reform programs Programmatic activities supported by the Austrian and the Swiss governments (ADA and SECO):

  8. International Finance Corporationa long-term partner for your business

  9. International Finance Corporation 1956 International Development Association 1960 Provides concessional loans to governments of the poorest countries. International Bank for Reconstruction and Development 1945 Lends to governments of middle income developing countries. Multilateral Investment Guarantee Agency 1988 Provides guarantees to foreign investors against non-commercial risk International Centre for Settlement of Investment Disputes 1966 Settles investment disputes between foreign investors and host countries. IFC is a member of the World Bank Group

  10. IFC’s Structure • Owned by 182 member countries • IFC is the main driver of private sector development in the World Bank Group • Global: Headquartered in Washington, D.C. • Local: More than 100 offices worldwide in 81 countries, more than half of IFC’s 3,354 staff work in field offices • Southeast Europe: Serbia, Bosnia, Macedonia, Albania, Croatia, Bulgaria, Romania • 45 staff in Belgrade

  11. IFC Financing IFC’s own account Mobilization* Loan Participants $20bn $15bn $10bn $5bn $0 * “Mobilization” includes syndicated loans, structured finance, IFC initiatives and other, and IFC Asset Management Company.

  12. Investments by Industry, FY10 Commitments for IFC’s Account: $12.7 Billion Private Equity and Investment Funds 3% SubnationalFinance 1% Oil, Gas, Miningand Chemicals 8% Agribusiness 4% Infrastructure 12% Global FinancialMarkets 54% Health andEducation 3% Global Manufacturing and Services 11% Global Information and Communication Technologies 4%

  13. Investments by Region, FY10 Commitments for IFC’s Account: $12.7 Billion Global 1% Sub-Saharan Africa 19% Middle East and North Africa 12% East Asia and Pacific 13% Latin America and the Caribbean 24% South Asia 8% Europe and Central Asia 23%

  14. St. Petersburg NizhnyNovgorod Moscow Minsk Warsaw Kiev Vinnytsia Bratislava Nikolaev Odessa Zagreb Belgrade Bucharest Almaty Sarajevo Bishkek Sofia Tbilisi Skopje Tashkent Tirana Istanbul Yerevan Baku Khodjand Dushanbe Kabul IFC in Europe and Central Asia IFC Hub Offices IFC Operational Centers IFC Offices

  15. IFC and Austriain Southern Europe • Austria is strong donor/partner in IFC Advisory Services • PPP in Infrastructure • Solid Waste Management/Recycling • Investment Climate • IFC supports/invests in Austrian groups/companies: • Raiffensen (Serbia, Bosnia) • Erste Bank-BCR • Porr (regional + Serbia) • Soravia (regional) • EVN (Macedonia) • Verbund (Albania-Ashta hydro-power: IFC as advisor)

  16. Investments In Bosnia and Herzegovina Total Committed Portfolio = USD 131.2 million Total Outstanding Portfolio = USD 108.1 million Loan Investments = 91% CGM investments: Bosnalijek, Cimos, Sisecam Bosnia CGF investments: EKI Bosnia, MI- BOSPO, Nova Banka, Raiffeisen-Bosnia, Unicredit Bosnia CHE investments: Heart Center BiH CFN investment: Enterprise Fund (Horizonte Ventures)

  17. Priority Sectorsin BiH • Financial sector ( SMEs, energy efficiency, housing finance renewable energy) • Real sector (support strategic FDI in BiH, agribusiness, SME) • Infrastructure: transport, renewable energy

  18. IFC Investment terms • Long-term loan and/or equity and/or quasi-equity • IFC finances max 50% of project cost for existing companies, 25% for greenfields • Minimum IFC financing: (in practice) $3 million • Commercial pricing (no subsidy)

  19. IFC: a Long-term & Regional Partner • A long-term partnership perspective, providing clients important countercyclical/long-term financing when commercial banks cut back on volume and tenor • Global/regional network: we can help you enter new emerging markets • Political risk mitigation

  20. We are open for business! Antoine Courcelle-Labrousse Bulevar kralja Aleksandra 86, Belgrade Serbia Tel: +381 11 3023 750 Email: acourcelle@ifc.org Selma Rasavac Avdagic Hamdije Kresevljakovica 19/IV Sarajevo BiH Tel: +387 33 251 555 Email: srasavac@ifc.org

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