Bosnia Reconstruction Finance Facility (BRFF)

Program to establish the Bosnian Reconstruction Finance Facility (BRFF) as a mechanism for providing credit needed by the productive sector of Bosnia-Hercegovina to jump-start economic growth and generate employment opportunities for the general population, including refugees and demobilized soldiers. A small portion of the funds will be used to provide TA to the Bosnian banking sector. BRFF is a co-program with the Municipal Infrastructure and Services Program (1800058) in USAID efforts at economic reconstruction of the country. As part of a multi-donor effort to provide balance of payments assistance to the Government of Bosnia-Hercegovina (GOBH), USAID will deposit $278 million into a separate GOBH account, entitled the BRFF, to be established in the Federal Reserve Bank or a U.S. commercial bank. BRFF funds will be onlent to commercially viable enterprises through the Bosnian commercial banking sector. The primary implementors of the onlending program will be an Onlending Management Unit (OMU), staffed by a team of U.S. bankers, accountants, auditors, and Bosnian staff, who will make all lending decisions in consultation with Bosnian commercial bankers, who will originate lo

Source: DEC abstract, PD-TAB-877 (1996). The source's own text.