Bosnia’s Serb Entity Welcomes Hungary’s 35 million euros in Aid

During his visit to Banja Luka in December last year, Hungarian Prime Minister Viktor Orban promised 100 million euros in financial assistance to Bosnia's Serb-led entity, Republika Srpska, as part of Hungary's Responsible Neighbourhood policy, to enhance stability in the region.

Hungarian Foreign and Trade Minister Péter Szijjártó met the Bosnian Serb leader and Serbian member of the Bosnian presidency, Milorad Dodik, on Friday, to follow up on the first round of disbursement.

"Thirty-five million euros will be allocated to fund small and medium-sized companies in the country," Szijjártó told the press conference after the meeting.

"They [companies] can receive a maximum of 25,000 euros for the development of or purchase of certain equipment produced in Hungary, and in this way we'll help Srpska's economy develop within Bosnia and Herzegovina, and our Hungarian companies," he said.

More than 1,400 Bosnian companies will receive aid in this round of financing. A second round involving another 35 million euros will be allocated next year.

The open call for financing is expected to open in September and last until mid-October.

Hungary is a close ally of Republika Srpska and Dodik thanked Orban's government for the help that Hungary is providing.

Orban opposed EU sanctions on Dodik when Germany proposed them in December last year, citing Dodik's secessionist actions.

Orban then described Serbia and Bosnia's Serb-dominated entity as "key to the stability of the Western Balkans" and urged the new German government to integrate the region into the EU rather than punish it, which "could lead to even bigger problems".

"We don't need the West to talk about us, but with us", Dodik said at the press conference,...

Continue reading on: