WASHINGTON, February 25, 2010 – The World Bank’s Board of Executive Directors today approved an interest-free International Development Assistance (IDA) credit in the amount of US$15 million for the Social Safety Net and Employment Support Project in Bosnia and Herzegovina (BiH).
The project was prepared at the request of BiH authorities and in support of the ongoing reforms of the social protection sector in the country.
The Social Safety Net and Employment Support Project will strengthen institutional capacity necessary for implementation of the social protection reforms. A substantial portion of the credit (US$8 million) will be used to provide employment services to active job-seekers among vulnerable groups, such as people with disabilities and demobilized soldiers. The project is expected to cover about 10,000 such beneficiaries over the next four years.
“As the authorities in Bosnia and Herzegovina confirmed their commitment to reforms of social protection and veteran benefits through improved targeting, this project confirms the World Bank’s commitment to assist the country in this important reform process,” stated Marco Mantovanelli, World Bank Country Manager for BiH.
The World Bank portfolio of active projects in BiH now includes 17 operations worth approximately US$367.4 million.