SARAJEVO (Bosnia and Herzegovina), October 5 (SeeNews) – Bosnia 's state-level government said it has decided to negotiate a 10 million euro ($11.2 million) loan deal with the European Bank for Reconstruction and Development (EBRD) to finance a rehabilitation project at the port of Brcko.
The project is expected to increase the volume of transhipment in the port of Brcko by 25%, which will have a positive impact on the economic development of the region, the Council of Ministers said in a statement following a session on Tuesday.
The deadline for the repayment of the loan is 15 years, including a three-year grace period.
The proceeds of the loan will be used for rehabilitation and upgrade of facilities at the port of Brcko and optimisation of road and railway access to the port, the EBRD said in a statement last month.
Bosnia and Herzegovina is made up of two autonomous entities, the mostly Serb-dominated Serb Republic and the mainly Bosniak and Croat populated Federation of Bosnia and Herzegovina, as well as a neutral, self-governing administrative unit, the Brcko District.
The port of Brcko, on the Sava River in northern Bosnia, is a key regional transport hub.
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