The objective of the Ars Aevi Project is to create an International Multicultural Centre and Museum of Contemporary World Art in Sarajevo. The Ars Aevi Museum is a centre of international dialogue, meeting and cultural exchange. It is a project with significance for the present and future of Sarajevo, of Bosnia and Herzegovina, of Southeast Europe and beyond.

Federal Ministry of Culture and Sport performs administrative, professional and other tasks as laid down by the legislation related to the competencies of the Federation of Bosnia and Herzegovina in the areas of researching-scientific activity in the field of safeguard and usage of cultural-historical heritage; museums, archives, libraries, publishing, theater, music, fine arts, film and show business activities, activity of organizations and associations of citizens in the field of arts, culture, sport and youth; improvement of sport and physical culture; establishes development strategies in area of culture, sport and youth, as well as other tasks as laid down by the legislation governing this field.