August 30 (SeeNews) - The Bosnian unit of Raiffeisen Bank International said on Thursday it has signed a 10 million marka ($6.0 million/5.1 million euro) loan deal with the European Bank for Reconstruction and Development (EBRD) for housing mortgages.
The loan will enable more favourable housing loans, the Sarajevo-based lender said in a statement.
"By signing this contract with Raiffeisen Bank it will enable us to provide our trusted partner with long-term financing that will support the growth of housing loan portfolios," Ian Brown, the head of EBRD's office in Bosnia and Herzegovina, is quoted saying.
"We expect households in Bosnia and Herzegovina to benefit from higher availability of mortgage loans, this will have a positive impact on the domestic construction industry with positive effects on the wider economy," he added.
Raiffeisen Bank d.d. Bosna i Hercegovina is a subsidiary of Raiffeisen Bank International AG. In 2016 it was the second largest bank in Bosnia's entity, the Federation of Bosnia and Herzegovina, in terms of total assets.
(1 euro=1.95583 marka)
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