Bosnia's Serb Republic eyes 19 mln euro EIB loan for flood protection

The loan will be repaid in 25 years, including a five-year grace period, the Council of Ministers said in a statement on Friday.

The draft agreement now needs the approval of Bosnia's tripartite presidency.

The proposed financing will support the continuation of works on building river embankments in the Serb Republic. The total value of this phase of the project is estimated at 41.83 million euro, with the remainder above the 19 million euro EIB loan to come from domestic contributors and other financing sources.

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

($=0.907920 euro)