SARAJEVO (Bosnia and Herzegovina), March 21 (SeeNews) – Bosnia's government said it is issuing a guarantee to road company Autoputevi Republike Srpske for an additional 10 million euro ($12.3 million) loan from the European Bank for Reconstruction and Development (EBRD).
Autoputevi Republike Srpske, the road company of Bosnia's Serb republic entity, intends to use the proceeds of the additional loan towards the cost of construction of the Banja Luka-Doboj motorway.
This is the second amendment to the loan agreement which Autoputevi Republike Srpske signed with the EBRD in 2012, as the company seeks additional funds to complete the motorway, Bosnia's Council of Ministers said in a statement following a session on Tuesday.
The new loan will also be guaranteed by the Serb Republic, one of the two constituent entities of Bosnia and Herzegovina. The other is the Federation.
($=0.814370 euro)