Bosnia’s BBI Banka and Canton of Sarajevo sign €25.3 million line of credit agreement to support businesses
SARAJEVO (Bosnia and Herzegovina), August 30 (SeeNews) – Bosna Bank International (BBI Banka) announced that it has signed an agreement worth 49.5 million marka ($25.3 million/25.3 million euros) with the Ministry of Economy of the Canton of Sarajevo in Bosnia and Herzegovina in support of commercial entities based in the canton.
The ministry will subsidize interest rates for businesses that will receive loans under the credit line, BBI Banka said in a press release last week.
The funds are intended to help companies ensure liquidity, improve the efficiency of their operations and grow, prioritizing companies planning new hires, the press release said.
Companies can borrow up to 1 million marks, with a repayment period of up to seven years, depending on the type and amount of the loan.
The lender intends to launch a public call for businesses to apply for the loans soon, he added.
The Canton of Sarajevo is one of the ten cantons that make up the Federation – one of the two autonomous entities that form Bosnia and Herzegovina. The other entity is the Serbian Republic.
(1 euro = 1.95583 marks)
Bosna Bank International dd Sarajevo is one of the largest banks in SEE, for more reference check out top 100 banks