USAID INCREASES LOANS IN BOSNIA

SARAJEVO, Oct 21 (Hina) - The U.S. Agency for International Development (USAID) said on Monday it would increase by another two million convertible marks (one million euros) loans earmarked for encouraging private enterprises in Bosnia-Herzegovina, realised with the mediation of Sarajevo's UPI Bank. #L# The USAID loan programme was started in July 2001 and UPI Bank was the first bank to be granted a starting amount of one million euros. So far, all available means have been used through eight loans, and the new loan will ensure the continuation of the support to private entrepreneurs who will be granted five-year loans ranging between 25,000 and 400,000 convertible marks, the USAID said in the statement. Zagrebacka Bank of Bosnia-Herzegovina, Universal Bank, MEB Bank and the Commercial Bank are also participating in the implementation of the USAID loan programmes. On behalf of the American government, the banks have so far placed loans amounting to 271 convertible million marks from the Business Development Programme fund worth 232 million American dollars. The US government loans are expected to enable the creation of 9,000 new jobs in Bosnia. (hina) it sb