EIB enhances local presence in Western Balkans by opening office in Sarajevo

At the same time, Alessandro Bragonzi has been appointed EIB Representative for Albania, Kosovo* and North Macedonia, based in Tirana at the EU Delegation.

The European Investment Bank (EIB) is enhancing its local presence in the Western Balkans by opening a desk office in Sarajevo. It is based at the EU Delegation and will be led by Sandrine Friscia as EIB Representative for Bosnia and Herzegovina and Montenegro. The main goal of the new office is to support EIB financing activity in the context of the Economic Resilience Initiative (ERI), working closely with the operational team based in Luxembourg and collaborating with the EU delegations to implement joint actions in the two countries.

At the same time, Alessandro Bragonzi has been appointed EIB Representative for Albania, Kosovo* and North Macedonia, based in Tirana at the EU Delegation. The two Representatives, together with the already active Regional Office in Belgrade, map out the EIB's presence in the Western Balkans and its commitment to bring the region even closer to the European Union.

Sandrine Friscia was officially introduced at a reception in presence of the EU Ambassador H.E. Lars-Gunnar Wigemark, the EIB Head of Division in charge of Western Balkans, Croatia and Slovenia, Matteo Rivellini, and of the Head of the EIB Regional Office for the Western Balkans, Dubravka Negre.

Head of the Delegation of the European Union to BiH and EU Special Representative in BiH Ambassador Lars-Gunnar Wigemark pointed: "We are officially announcing the presence of the European Investment Bank in Sarajevo, an essential institution of the European Union. However, it is important to note that the European Investment Bank has been present in Bosnia and Herzegovina and the region for many years and that the EIB has over the years loaned over EUR 1.6 billion. It is the world's largest development investor which has supported numerous projects in Bosnia and Herzegovina and will continue with its considerable activities, which is why it is important to have a representative here, in the EU House in Sarajevo."

EIB Head of Division in charge of Western Balkans, Croatia and Slovenia, Matteo Rivellini said: "We are very pleased to announce the appointment of Sandrine Friscia, new EIB Representative for Bosnia and Herzegovina and Montenegro. Ms Friscia brings enthusiasm, expertise and energy to this important job. Building on the strong foundations we have in the region, she will further expand and deepen our activities in Bosnia and Herzegovina and Montenegro. The appointment of Ms Friscia goes to strengthen EIB's commitment to the region, whilst at the same time supporting the Bank's renewed efforts in the context of the Economic Resilience Initiative. What is more, Ms Friscia will support the region's endeavours on the path towards adhesion to the European Union, connecting the region, fostering its development, improving living conditions for all citizens."

Economic Resilience Initiative (ERI)

The Economic Resilience Initiative, developed by the EIB in response to a request by the European Council, is rapidly mobilizing additional financing in support of growth, vital infrastructure and social cohesion in the Southern Neighborhood and Western Balkans (WB).

ERI represents an important shift in the EIB's activities in the WB region towards more support to private sector counterparts, making up nearly two-thirds of the initiative. ERI expands the toolkit available through the EIB for these two regions, offering additional concessional finance, enhanced support to the private sector, impact finance, and technical assistance.

EIB in Bosnia and Herzegovina and Montenegro

The EIB, the EU Bank, has been active in Bosnia and Herzegovina since 1977, playing an important role in encouraging economic cooperation, fostering growth, cohesion and integration in the region.

Since 2008, the EIB has lent EUR 1.65 billion to support projects in Bosnia and Herzegovina, financing across the sectors of the economy, supporting investments in the transport and SME sectors, but also those in water and sewage, energy and healthcare sectors. Of this total, EUR 725 million has been used for credit lines to develop small and medium enterprises and midcaps, helping sustain more than 71,500 jobs. In addition, after the devastation of the floods, the EIB has supported the construction of flood protection facilities along the Sava River and its tributaries to protect against future risks These are a core component of the EIB's lending priorities.

Over the same period, the EIB has also invested more EUR 719m in Montenegro, focusing both in vital infrastructure and in ensuring access to credit for SMEs, sustaining employment and fostering growth and cohesion in the country. These initiatives contribute to the economic development of the whole region.