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Bosnia's govt endorses 51.3 mln euro loan deal with World Bank

Bosnia's govt endorses 51.3 mln euro loan deal with World Bank Marcella Miriello/Shutterstock.com

SARAJEVO (Bosnia and Herzegovina), January 12 (SeeNews) – Bosnia's government said it has endorsed a draft agreement with the World Bank for a 51.3 million euro ($62.2 million) loan, to be allocated to the country's Serb Republic entity to finance for a railways restructuring project.

The aim of the project is to improve the operational efficiency and financial sustainability of the Serb Republic's railway operator, Zeljeznice Republike Srpske, Bosnia's Council of Ministers said on Thursday, following a weekly session.

The loan repayment period is 32 years, including a seven year grace.

The draft loan deal has been sent to Bosnia's collective presidency for approval.

The Serb Republic is one of two entities that make up Bosnia and Herzegovina. The other is the Federation.

($=0.824787 euro)

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