The FINANCIAL -- The World Bank Groups’ Board of Executive Directors on May 9 approved a Global Environment Facility (GEF) and Special Climate Change Fund (SCCF) Grants totaling US$8.73 million for the West Balkans Drina River Basin Management Project for Bosnia and Herzegovina (US$3.37 million), Montenegro (US$2.72 million), and Serbia (US$2.63 million).
The project aims to ensure a rational and equitable management of the Drina River basin supporting the significant socio-economic development opportunities offered by its abundant natural resources, while at the same time protecting the environment. The project will strengthen the mechanisms for cooperation among Bosnia and Herzegovina, Montenegro, and Serbia regarding this shared resource. The project will also help deal with climate change-related disasters, notably floods and droughts, according to the World Bank.
“This is a regional project that fosters cooperation among three countries on transboundary water management”, said Anna Cestari, World Bank Senior Water Resources Specialist and Task Team Leader for this project. “This project will support the countries in optimizing management of the shared river basin. It will also support their preparedness related to extreme weather events, given that in recent years, disastrous floods and seasonal droughts have become more frequent and have caused severe damage.”
The project will complement ongoing activities financed by the World Bank, the European Union and other international institutions which aim at improving integrated planning and cooperation for water in the region.