EU approves euro39 mln financial package for Bosnia

SARAJEVO, Bosnia-Herzegovina — The EU says it has approved a euro39 million ($55.39 million) financial aid package for Bosnia to help it deal with the effects of the financial and economic crisis.

A statement from the European Commission said Tuesday the grant is part of a pre-accession assistance package and will support the development of small and medium sized enterprises and provide investment in infrastructure in the transport, environment, and energy sectors. Part of it will also help prevent deposit outflows due to the financial crisis.

The grant should also trigger loan financing from international financial institutions, like the European Investment Bank.

A second program to boost institution-building efforts will be adopted in the autumn, the statement said.