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SARAJEVO (Bosnia and Herzegovina), December 4 (SeeNews) - Bosnia's Council of Ministers said it has approved borrowing 30 million euro ($33.2 million) from the European Investment Bank (EIB) for financing a water supply and waste water treatment project in the Serb Republic entity.
The loan will go to support a project worth an overall 60 million euro, with additional 28.8 million euro to come from domestic and other financing sources, as grants will add 1.2 million euro, the Council of Ministers said in a press release on Tuesday.
The loan will mature in 25 years, including a six-year grace period.
The project envisages the construction and reconstruction of the water supply, waste water and storm water infrastructure for more than 216,000 citizens of the Serb Republic entity.
The project will be launched in 2020 and should be completed by 2024.
The loan agreement will be submitted to Bosnia's presidency for approval.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
($ = 0.9025 euro)