Bosnia and Herzegovina: CEB provides €11 million for government investments in health infrastructure
15 March 2019
PARIS - The Council of Europe Development Bank (CEB) has approved a €11 million loan to the government of Bosnia and Herzegovina in order to finance investments in mental health care.
During the last few years, Bosnia and Herzegovina has invested significant funds in the health sector, focusing on the upgrading of medical facilities and treatment equipment in the primary care segment.
The €11 million loan will be used for investments in psychiatric care. More specifically, it will finance the construction and modernisation of six psychiatric clinics located in Banja Luka, Modriča, Sokolac, Višegrad, Sarajevo and Mostar. The aim is to improve the functionality of the buildings, with particular emphasis placed on energy efficiency improvements and the use of renewable energy sources wherever possible.
Overall, this will upgrade the facilities concerned in line with European Union and World Health Organisation standards. It will also improve the care environment for patients and working conditions for staff. It is expected that the CEB loan will improve working conditions for medical staff and the care environment for some 900 persons who are resident patients in the clinics, but also the thousands of persons using the facilities on an outpatient basis every year.
This is not the first CEB loan provided to Bosnia and Herzegovina for investments in the health sector. In recent years, two projects have been approved focusing on the construction of primary care centres and the modernisation of existing ones in order to strengthen the sustainability of the healthcare system.
Governor Wenzel said: “This latest project approved underlines the CEB’s strong commitment to supporting its member countries’ investments in social public infrastructure. Quality, inclusive healthcare is crucial for social development and, as such, it is one of the areas to which the CEB attaches great importance. With this, the CEB and Bosnia and Herzegovina are expanding their cooperation, which covers several areas that are vital for sustainable development and social cohesion.”Bosnia and Herzegovina, a member of the CEB since 2003, has also benefited from CEB funding in other sectors, such as microfinance, social housing, and the modernisation of public infrastructure in urban and rural areas.
Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, outlook stable and Aa1 with Moody's, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.