October 2 (SeeNews) - Bosnia's government said it has approved plans to hold talks with the European Bank for Reconstruction and Development (EBRD) on a 40 million euro ($47 million) loan to finance a railway section reconstruction project.
The tenor of the loan is 15 years, including a three-year grace period on the principal, and the funds will go the Serb Republic, the government said in a press release on Thursday. The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
The project envisages the revamp of the railway corridor in the Serb Republic entity, including the reconstruction of the 99-kilometre Samac-Doboj-Rjecica section.
The project costs total138 million euro.
(1 euro = 1.95583 marka)