IMF grants 330 million Euro loan for Bosnia to fight Covid-10 pandemic

NEWS 21.04.2020 08:37
Source: N1

International Monetary Fund's (IMF) executive body approved a 330 million Euro loan for Bosnia and Herzegovina for the fight against coronavirus pandemic, Chairman of the Council of Ministers Zoran Tegeltija told Srna news agency.

“The funds have been approved. The board's session is over and they unanimously backed the decision to approve the funds for Bosnia and Herzegovina,” said Tegeltija, also the Chairman of Bosnia's Fiscal Council.

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The decision comes days after the leaders of Bosnia's strongest political parties met with representatives of the European Union and IMF in Bosnia and agreed on the money distribution among two entities and Brcko District.

According to the agreement reached on April 11th, Bosniak-Croat Federation (FBiH) entity will get 62 percent of the total amount, while 38 percent will be allocated for Serb-majority Republika Srpska (RS). Both regions will give half a percent of their share for Brcko District.