Banja Luka city takes out 6.6 mln euro UniCredit Bank loan for capital investments

Part of the proceeds from the loan will be used to acquire the assets of bankrupt steel mill Unis-Valjaonica on whose site the city plans to develop a business and high-tech park as early as next year, the local authorities said in a statement.

The 10-year loan with a grace period of one year will also be used to finance six other municipal projects, including the construction of urban road infrastructure.

Banja Luka is the administrative center of the Serb Republic, one of the two autonomous entities that form Bosnia and Herzegovina. The other one is the Muslim-Croat Federation.

(1 euro = 1.95583 Bosnian marka)