Bosnia and Herzegovina: Community macro-financial assistance

PURPOSE : to provide macro-financial assistance to Bosnia and Herzegovina. COMMUNITY MEASURE : Council Decision 2001/899/EC amending Decision 1999/325/EC providing macro-financial assistance to Bosnia and Herzegovina. CONTENT : on 10 May 1999, the Council of the European Union decided to provide to Bosnia and Herzegovina macro-financial assistance of up to EUR 60 million, comprising a loan facility of up to EUR 20 million and a grant facility of up to EUR 40 million (Decision 1999/325/EC) with a view to supporting the balance of payments and help ease the country's external financial constraints as well as to conform to efforts and the implementation of common institutions and policies, consistent with the Dayton peace agreements. Due to delays in the implementation of the required policy reforms as agreed with the Stand-by arrangement with the International monetary Fund (IMF), so far only a first (EUR 25 million) and a second tranche (EUR 20 million) could be released. A third and final tranche of up to EUR 15 million is still outstanding. It should be added that the existing Decision 1999/325/EC does not permit the commitment of grant funds beyond the year 2000) Therefore this Decision aims to release the third tranche (EUR 15 million) of the loan from now until 31 December 2001 instead of 31 December 2000. ENTRY INTO FORCE : 10.12.2001.�