Bosnia’s Serb Republic Allots 180,000 Euro for Infrastructure Projects in Three Municipalities

The government subsidy is for the construction of water conduits and upgrades of roads in the Stari Grad and Trnovo municipalities near the capital Sarajevo and in the Ostra Luka municipality in western Bosnia, IRBRS said in a statement posted on its website.

The Serb Republic is one of the two autonomous parts of war-divided Bosnia. The other is the Muslim-Croat Federation.

In 2008, IRBRS has provided a total of 3.255 million marka to support municipalities in the Serb Republic, the bank said.

IRBRS (www.irbrs.net) was set up in late 2006 by the Serb Republic government with the aim of stimulating investment and spurring economic development in this region of Bosnia. It manages six state funds and is responsible for privatisation in the area.

(1 euro = 1.95583 Bosnian marka)