SARAJEVO (Bosnia and Herzegovina), June 14 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it approved three loans worth a total of 3 million euro ($3.1 million) to Bosnia and Herzegovina's microfinance institution Mi-Bospo in support of micro- and small sized enterprises (MSEs) and to finance private energy efficiency investments.
The EBRD approved a senior unsecured loan of up to 1 million euro under the Western Balkans Green Economy Financing Facility II (WB GEFF II) to back investments in high-performance green technologies, materials and solutions undertaken in privately-owned residential dwellings or buildings, it said in a project summary document on Monday.
The lender will also provide a loan of up to 1.5 million euro for on-lending to MSEs under the Financial Intermediaries Framework (FIF).
The third loan in the amount of up to 500,000 euro will be used for on-lending to MSEs whose overall operational management responsibility or majority ownership is held by a person under the age of 35. The loan will be provided under EBRD's Western Balkans Youth in Business Programme.
Mi-Bospo is a microfinance institutuon focused on loans to female borrowers, women enterpreneurs and agro clients. Headquartered in Tuzla, Mi-Bospo has 193 employees and serves about 25,500 clients in the country through 38 offices.
($ = 0.9547 euro)