World Bank grants 33.1 million Euro loan for Bosnia's fight against Covid-19

World Bank grants 33.1 million Euro loan for Bosnia's fight against Covid-19

World Bank grants 33.1 million Euro loan for Bosnia's fight against Covid-19 Izvor: Ministarstvo finansija BiH

Finance and Treasury Minister, Vjekoslav Bevanda, signed a loan agreement with chief of the World Bank's office in Bosnia and Herzegovina, Emanuel Salinas, making available 33.1 million Euro for the country's fight against Covid-19.

The minister thanked the World Bank's representatives for understanding and swift reaction in ensuring the funds to tackle the pandemic.

“The funds are intended for both entities, the users of this loan, and the amount will be allocated in a way that Federation (FBiH) gets 60 percent and Republika Srpska 40 percent. Conditions are favourable with the repayment term of 32 years and seven years of grace period,” said Bevanda.

As for FBiH, the amount of 19,859,900 Euros will be utilised by Health Ministry and Ministry for Labour and Social Policy, while the RS Ministry of Health and Social Welfare will implement the projects worth 13,240,100 Euros.

Bevanda said he expected the amount to be spent in accordance with the loan conditions, stressing the importance of such projects at moments when the whole world is facing difficult consequences of the pandemic.

Goal of the project funded by the World Bank's loan is prevention, discovery and response to the Covid-19 pandemic-related threats, strengthening the national healthcare systems and helping the most jeopardised groups hit by the pandemic, the Finance and Treasury Ministry said.

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