May 14 (SeeNews) - Bosnia's Federation government said it has approved a plan to borrow 7.2 million euro ($7.8 million) from the International Bank for Reconstruction and Development (IBRD), part of the World Bank Group, to finance a real estate registration project.
The loan has a tenor of 32 years and a grace period of seven years, and carries a six-month EURIBOR (Euro Interbank Offered Rate) interest rate plus a fixed margin, the entity government said in a press release on Tuesday.
The project aims to support the development of a sustainable real estate registration system with harmonized land register and cadastre records in the urban areas of Bosnia's two constituent entities - the Federation and the Serb Republic.
($ = 0.925065 euro)