POLITICS

Slovakia, UNDP support Enhancement of BiH’s Public​ Finance System

Slovak Republic allocated USD 600,000, this  time for activities supporting enhancing Bosnia and Herzegovina’s public finance system management, which will be implemented in the next two years in partnership with the United Nations Development Programme (UNDP) in BiH.

The support of the Slovak Republic will help advancement of public finance system stakeholders’ capabilities by supporting participatory design of a financing strategy for the future implementation of the Sustainable Development Goals (SDGs) in the country, reinforcing the linkages between SDG-informed and results-based strategic planning and financing, as well as through strengthening internal controls and value for money approach in local governments through a set of capacity-building interventions.

“This partnership of Slovak Republic and UNDP aims to assist Bosnia and Herzegovina in mobilizing new finance for sustainable development and optimizing use of existing public funds towards achievement of the Sustainable Development Goals, Agenda 2030 and country’s progress on its path towards the EU membership. We are grateful to the Slovak Government for the continued support and partnership’”, stated Steliana Nedera, Resident Representative of UNDP in BiH.

“The UN Sustainable Development Goals framework is offering us the opportunity to develop more added value based economical models that would be at the same time mindful towards environment and its recourses, and thus laying better foundation for a more prosperous and secure future. We are also global citizens after all”, stated Martin Kačo, Slovak Ambassador in BiH.

An assessment of current financial flows, as well as current and planned public expenditures directed to development, will be conducted and findings will be used to design a financing strategy for sustainable development, supported as part of a wider UN Programme that aims not only at working with domestic partners in the country, but also to foster development partnership and increase financing opportunities for the SDGs by introducing innovative financing instruments. In addition, the Project will support improving linkages between strategic and financial planning in the Federation of BiH (entity, cantonal and local level) and will be possibly replicated in Republika Srpska. Importantly, this intervention complements the existing European Union efforts in supporting the governments in BiH in introducing programme-based budgeting.

The Slovakia’s support through the Slovak-UNDP Trust Fund is to be implemented over a two-year period.

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