SARAJEVO, May 21 (Hina) - The U.S. Agency for International Development (USAID) has offered to commercial banks in Bosnia-Herzegovina to buy the portfolio of loans this organisation has so far granted in Bosnia. The portfolio is worth
90 million convertible marks (approx. US$45 million).
SARAJEVO, May 21 (Hina) - The U.S. Agency for International
Development (USAID) has offered to commercial banks in Bosnia-
Herzegovina to buy the portfolio of loans this organisation has so
far granted in Bosnia. The portfolio is worth 90 million
convertible marks (approx. US$45 million). #L#
According to reports in the local press on Wednesday, the purchase
of the portfolio would virtually wrap up the USAID programme of
support to entrepreneurship in Bosnia. Since 1996, the USAID has
given $600 million of loans to companies in Bosnia within that
programme of support which helped save 26,000 jobs and create
10,000 new ones.
The USAID has proposed to commercial banks that the loans, already
approved to local companies, be paid back to those banks.
USAID director Howard Sumka declined to speculate which banks were
ready to purchase the portfolio.
The governor of the Bosnian Central Bank, Peter Nicoll, has
described the USAID decision as an important proof of the
strengthening of the banking system in Bosnia.
(hina) ms