Republika Srpska to in-debt for additional 678 million BAM

May 24, 2020 10:30 AM

 

The proposal of the decision on changing the decision on long-term borrowing of the Republic of Srpska (RS) entity envisages long-term borrowing of Srpska for this year in the maximum amount of 678 million BAM, announced the Minister of Finance Zora Vidovic.

Vidovic said that it is planned to borrow 354.1 million BAM on the domestic market, and 323.8 million BAM on the foreign market. According to her, out of 354.1 million BAM, a loan of 214.1 million BAM was made and it remains that borrowing of 140 million BAM is still possible on the domestic market, eKapija business portal reports.

Vidovic said foreign creditors, such as the International Monetary Fund (IMF), the World Bank and the European Commission, offered financial support in the form of soft loans to help BiH and Republika Srpska institutions overcome financial problems caused by the coronavirus pandemic.

She stated that the conditions of lending with the IMF are such that the annual interest rate is 1.05%, the repayment period is five years and the grace period is three years.

Vidovic said that Republika Srpska is negotiating with the World Bank regarding a loan that would serve for economic recovery, adding that the interest rate is 1%, the repayment period is 20 years, but that an agreement on the loan amount has not been reached yet.

 

 

 

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