September 9 (SeeNews) - The government of Bosnian canton of Zenica-Doboj said it has approved a proposal to sign a deal with German development bank KfW to receive financing of about 6.9 million marka ($3.6 million/3.5 million euro) for the reconstruction of eight schools in the canton.
About 3.5 million marka of the total sum will be received in the form of a grant, whereas the remaining 3.4 million marka will be a zero-interest loan, the cantonal government said in a statement on Thursday.
The loan will be repaid in a period from 12 to 32 years, the canton's education minister Spahija Kozlic said in the statement.
The Zenica-Doboj Canton is one of ten cantons that make form the Federation, one of two autonomous entities that make up Bosnia and Herzegovina. The other entity is the Serb Republic.
(1 euro = 1.95583 marka)