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Bosnia's Federation approves 25 mln euro IBRD loan for water, waste project

Bosnia's Federation approves 25 mln euro IBRD loan for water, waste project License: CC0 Creative Commons

SARAJEVO (Bosnia and Herzegovina), April 8 (SeeNews) - Bosnia's Federation government said it approved a plan to borrow 25 million euro ($27.2 million) from the International Bank for Reconstruction and Development (IBRD) for a project for the modernisation of water and sanitary services.

The financing is part of a 51.5 million euro loan that has been approved by the IBRD, the Federation government said in a statement on Thursday.

The Federation is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.

The funds will be used to support utility companies in strengthening the institutional, financial and legal framework, as well as strengthening the capacities in the water and utilities sector to ensure the sustainability of infrastructure investments, the Federation said.

The maximum loan repayment period is 32 years, while the grace period is seven years.

($ = 0.9199 euro)

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