The World Bank was established in 1944 and has more than 100 offices worldwide. It provides financial and technical assistance to developing countries around the world, helping to fight poverty and helping people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.
World Bank Presence in Bosnia and Herzegovina
Bosnia and Herzegovina joined the World Bank in 1996 (with membership retroactive to 1993). In the immediate post-war period (1996-1999), the World Bank, together with the EU, streamlined a wave of emergency projects aimed at jump-starting the reconstruction effort, including transport, power, de-mining, housing, health, education, public works, agriculture, and micro-credit sectors.
While continuing to support investments in the power sector, water and sanitation, solid waste management, employment, etc., in 1999 the World Bank began shifting part of its efforts towards supporting the key structural reforms critical to the emergence of a market based economy. The World Bank's 2008-2011 programme in BiH – the Country Partnership Strategy (CPS) – provided support to BiH on its path towards EU accession, promoting further improvements in service provision to the most vulnerable categories of the population.
In 2007, the World Bank approved three new credits (Agriculture and Rural Development Project; Avian Influenza Preparedness Project; and Road Infrastructure and Safety Project) and additional financing for three existing projects (Community Development Project; Urban Infrastructure and Service Delivery; and Forest Development and Conservation Project).
The total amount of financing for these projects is US$ 65 million. A number of investment projects are currently under preparation, such as a follow-up Solid Waste Management Project, Municipal Development Project, and Sava River Project. These projects will be financed out of the Global Environment Fund (GEF) - grant resources. In addition to financial services, the World Bank also provides analytic and advisory services to BH. The key pieces of analytic work over the coming year include: Proxy Means Targeting Study; Investment Climate Assessment; and Country Economic Memorandum. Since 1996, the World Bank has committed over $1.1 billion to BH through 55 projects.
The World Bank’s objective for the 2012-2015 CPS is to support BiH through knowledge services and targeted financing, co-ordination with European financial institutions, and an expanding partnership with the EU, including EU co-financing of Bank-financed operations.