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SARAJEVO (Bosnia and Herzegovina), August 16 (SeeNews) - The government of Bosnia's Sarajevo canton said it has approved a draft contract for taking out a 15 million euro ($16.6 million) loan from the European Bank of Reconstruction and Development to finance the purchase of new trolleybuses.
The contract is now pending approval by the canton's assembly, the cantonal government said in a statement on Thursday.
The 15-year EBRD loan will have a two-year grace period, the Sarajevo Canton government said.
The EBRD said in July that the Sarajevo Canton had invited offers for procurement of 25 new low-floor trolleybuses and related post-sales services worth 15 million euro. The cantonal government intends to use part of the proceeds of a loan from, or a grant administered by the EBRD to finance the project, the bank said.