REVOLVING FUND SEEN AS KEY SUPPORT FOR LOCAL GOVERNMENTS

GRADIŠKA, AUGUST 20 /SRNA/ — The importance of a revolving fund for local governments was highlighted at a meeting between Republika Srpska Minister for European Integration and International Cooperation Zlatan Klokić and Gradiška Mayor Zoran Adžić, as many local communities are unable to independently provide the 30% co-financing required for international projects.

Klokić stressed that the Ministry's Department for Development and Project Support would not only assist local governments but also provide technical assistance to businesses and civil society in planning, preparing and implementing projects.

He assessed the support would be particularly important for local governments that have already applied, or are preparing to apply, for international calls for projects funded by EU countries, as they will be able to access the revolving fund to provide the necessary financial contribution.

Adžić pointed out that the Gradiška City Administration has infrastructure projects worth EUR 230 million ready for implementation and is currently looking for international calls for which it could apply.

"The support from the Republika Srpska Ministry for European Integration and International Cooperation will be very useful," Adžić said.

He reminded that Gradiška was the first local government to launch an initiative to establish a department to support projects seeking access to European funds.

The Association of Municipalities and Cities of Republika Srpska had supported the initiative for years, while this year the Republika Srpska Government established a revolving fund and the Department for Development and Project Support within the Ministry for European Integration and International Cooperation.