Tuesday, December 18, 2007

International Development: World Bank approves $400 million loan to Bosnia-Herzegovina

The World Bank has approved a $400 million loan to Bosnia-Herzegovina, the head of the bank's mission in Sarajevo said on Monday.

The new lending arrangements during the 2008-2011 lending cycle is in addition to approximately $200 million already available as part of ongoing projects, said Marco Mantovanelli, the World Bank Country Manager in Bosnia-Herzegovina.

The World Bank says the program will support investments in infrastructure, municipal development, the transport and energy sectors, the business environment as well as public sector reform.

The World Bank has committed about 1.2 billion dollars in favourable loans to Bosnia-Herzegovina since the war ended in late 1995.