July 23 (SeeNews) - Bosnia's Serb Republic government will back the development of Olympic Centre (OC) Jahorina, a company operating sport facilities in the eponymous mountain resort, with a total of 13 million marka ($7.7 million/6.6 million euro) by the end of 2029, local media reported on Wednesday.
The government will provide 1.45 million marka annually to the company in the next nine years in order to maintain its financial stability and allow for further investments, news portal Capital.ba reported.
The Serb Republic controls a combined stake of 93.8% in OC Jahorina via several of its government-controlled funds, while the remainder belongs to smaller shareholders.
Last month, the shareholders of OC Jahorina decided to take out a 99 million marka loan to finance five capital investment projects, for which the Serb Republic government gave guarantees.
The proceeds of the loan will be used for the construction of the Pale-Jahorina gondola, a four-seat ski lift which will run from Trnovo to Jahorina, four-seat ski lift Rajska Dolina, artificial snow installation and a sports hall, it was reported back then.
OC Jahorina is based in Pale, a city located in the Serb Republic, one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)