Bosnia to seek USD365m loans from World Bank, others.
Global Banking News-13 November 2009-Bosnia to seek USD365m loans from World Bank, others(C)2009 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 13 November 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Bosnia's central cabinet has said that it would seek a USD277m loan from the World Bank and USD87.5m loans from two international development banks to ease the impact of the global crisis, Reuters has reported.
The cabinet has approved a finance ministry initiative for negotiating a EUR185m (USD277m) loan with the World Bank for budgetary support in 2009-2011 to 'cushion the impact of the global economic crisis,' it said.
It will seek the remainder of the total funds from the International Bank for Reconstruction and Development (IBRD) and from the European Bank for Reconstruction and Development (EBRD), it added.
[Editorial queries for this story should be sent to firstname.lastname@example.org]
((Distributed via M2 Communications - http://www.m2.com))