July 16 (SeeNews) - The government of Bosnia's Federation said it will allocate 6 million marka ($3.6 million/3.1 million euro) to subsidise interest rates for loans to companies that are part of the loan and guarantee schemes of the entity's coronavirus guarantee fund.
Bosnia's Federation government will subsidise interest rates of up to 4.5% for micro, small and medium-sized enterprises (MSMEs), as well as craftsmen and other individual entrepreneurs, Amir Zukic, the Federation's minister of development, entrepreneurship and crafts, said in a statement on Thursday.
Eligible companies and entrepreneurs will receive the subsidies on a quarterly basis.
Bosnia's Federation set up a guarantee fund in 2020 to assist companies in coping with the impact of the coronavirus disease.
The Federation is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.
(1 euro = 1.95583 marka)