May 4 (SeeNews) - The World Bank said it has approved a credit line worth $40 million (30.5 million euro) for the Bosnia and Herzegovina Irrigation Development Project.
The project aims to improve the performance of the country’s irrigation systems and help its agricultural producers increase crop yields, the World Bank said in a statement posted on its website on Thursday.
One fifth of Bosnia and Herzegovina’s workforce is employed in agriculture. Despite its fertile land and opportunities for high-value agricultural production the lack of irrigation facilities impact negatively on productivity and trigger crop yield losses that range from 20-40% in various parts of the country, the statement said.
"The project will focus on high-priority investments targeting the rehabilitation and modernization of irrigation systems. The largest irrigation investment to date in the country, it will support BH’s [Bosnia and Herzegovina’s] efforts to align with EU irrigation policies and address issues of climate variability. [..]," it added.
The World Bank portfolio of active projects in Bosnia and Herzegovina now includes 13 operations totaling approximately $342.3 million.
Areas of support include agriculture, energy, environment, health, social safety and employment, local infrastructure and private sector development.
($ = 0.7617 euro)