March 7 (SeeNews) - The ministry of spatial planning, construction and ecology of Bosnia's Serb Republic said it has signed an agreement with the European Bank for Reconstruction and Development (EBRD) for a loan of 4.5 million euro ($4.8 million), intended to finance a project for the improvement of energy efficiency in public buildings.
Under the contract, the ministry will also receive a grant of 1.6 million euro as co-financing for the project, it said in a press release on Monday.
The government of the Serb Republic has provided guarantees for the loan.
The project is expected to improve energy efficiency in 20 public facilities, primarily in the field of education and health, on the territory of the Serb Republic.
The Serb Republic is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.
($ = 0.938107 euro)