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Bosnia's Federation gets $26.2 mln intl financing for energy efficiency, poverty

Bosnia's Federation gets $26.2 mln intl financing for energy efficiency, poverty

SARAJEVO (Bosnia and Herzegovina), September 23 (SeeNews) - The government of Bosnia's Muslim-Croat Federation said on Tuesday it has obtained two loans from international lenders of total $26.2 million (20.4 million euro) for energy efficiency projects and poverty reduction.

The Federation will borrow $18.95 million from the World Bank’s fund, International Development Association (IDA) for energy efficiency projects, which is 60% of the total borrowing approved by IDA for Bosnia and Herzegovina, the government of the Federation said in a statement.

IDA’s loan should be repaid within 25 years with a grace period of five years.

The Federation will also borrow $7.3 million for poverty reduction projects from the International Fund for Agricultural Development (IFAD), which is 60% of the total sum approved for Bosnia.

Apart from the Federation, Bosnia has another autonomous entity, the Serb Republic.

($=0.7785 euro)

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