European Union Ambassador Luigi Soreca urged Bosnia & Herzegovina’s leaders on May 8 to accelerate reforms needed for EU accession, warning the country risked losing hundreds of millions of euros in funding if political deadlock continues.

Speaking at Europe Day celebrations in Sarajevo, Soreca said Bosnia could lose access to €373mn under the EU Growth Plan unless authorities urgently implement a long-delayed reform agenda.

“I must be clear: inaction has its consequences. Opportunities that are lost do not come back,” Soreca said.

Bosnia formally opened the path towards EU accession talks in 2024, but progress has stalled amid disputes between the country’s rival political leaders and its complex governance system established after the 1992-95 war.

Soreca said key reforms, including adopting laws on courts and the High Judicial and Prosecutorial Council in line with European standards, remained essential before accession negotiations could formally begin.

“If the authorities in Bosnia and Herzegovina do not take urgent action to implement the Reform Agenda of the Growth Plan, there is a growing risk that this country will lose €373mn,” he said.

He added: “What is missing at the moment is action from elected representatives.”

The ambassador acknowledged Bosnia’s complicated political structure but said leaders must show “vision, courage and determination” to move the country closer to the bloc.

“Every delay in strengthening the rule of law makes citizens less safe and businesses less competitive,” Soreca said.

The EU remains Bosnia’s largest trading partner and investor, accounting for 73% of trade and around 60% of foreign direct investment, according to Soreca.

The speech came as Brussels seeks to revive EU enlargement amid geopolitical tensions following Russia’s invasion of Ukraine.

Soreca said most Bosnians continued to support EU membership and urged politicians to match the determination shown by the country’s national football team.

“It is time now for the political class to use the same determination shown by the football team to make progress on the EU path,” he said.