March 19 (SeeNews) - The banks operating in Bosnia's Federation entity have decided to freeze loan repayments by companies and individuals by at least three months, to help them cope with the economic impact of the coronavirus disease (COVID-19) outbreak, the Federation prime minister, Fadil Novalic, said on Thursday.
The Federation's banking agency and bank representatives will coordinate and prescribe procedures needed for the implementation of this agreement", Novalic said in a statement, adding that the banking sector in the Federation is liquid and is functioning smoothly.
The agreement came as a result of the entity government's measures for fighting the coronavirus epidemic, which also include establishment of a fund for stabilisation of the economy, setting up a guarantee fund for affected companies, as well as introduction of credit lines for small and medium-sized businesses.
The number of confirmed cases of COVID-19 in Bosnia rose to 44 on Thursday.
On Tuesday, Bosnia's state-level government declared a state of emergency in an attempt to curb the spread of the coronavirus disease.
The Federation is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Serb Republic.