SARAJEVO, 6 Feb (Hina) - The President of the Presidency of Bosnia and Herzegovina, Alija Izetbegovic, and the head of the World Bank office in Bosnia and Herzegovina, Rory O'Sullivan, on Thursday signed an agreement on the first
loans the purpose of which is to be regulated by agreement among central bodies of Bosnian state authority.
SARAJEVO, 6 Feb (Hina) - The President of the Presidency of Bosnia and
Herzegovina, Alija Izetbegovic, and the head of the World Bank office in
Bosnia and Herzegovina, Rory O'Sullivan, on Thursday signed an agreement on
the first loans the purpose of which is to be regulated by agreement among
central bodies of Bosnian state authority. #L#
All three members of the Bosnian Presidency agreed to the signing of
the agreement.
The World Bank granted Bosnia and Herzegovina three loans amounting to
US $32 million for urgent needs in all areas of the country and the creation
of conditions for long-term economic growth. The money will be invested in
the development of economic activities in small companies, basic medical
services and financial support for the health system.
Ten million dollars are intended for the financing of an agency for
investment insurance, which is to give guarantees against political risks to
possible foreign investors.
After the signing of the agreement, O'Sullivan said that the loans are
very important since they meet needs in all parts of the country and in
both entities.
Since April 1996, the World Bank has granted Bosnia 17 loans out of
the total of 355 million dollars.
(hina) rm
062038 MET feb 97