Bosnia's Finance and Treasury Minister, Vjekoslav Bevanda, signed a loan agreement with chief of the World Bank's office in Bosnia and Herzegovina, Emanuel Salinas, making available €33.1 million in funding for the country's fight against Covid-19.

The minister thanked the World Bank’s representatives for understanding and swift reaction in ensuring the funds to tackle the pandemic.

“The funds are intended for both entities, the users of this loan, and the amount will be allocated in a way that Federation (FBiH) gets 60 percent and Republika Srpska (RS) 40 percent. Conditions are favourable with the repayment term of 32 years and seven years of grace period,” said Bevanda.

As for FBiH, little under €20 million will be given to the Health Ministry and the Ministry for Labour and Social Policy, while in the RS half of the country the Ministry of Health and Social Welfare will use €13.2 million for various projects.

Bevanda said he expected the amount to be spent in accordance with the loan conditions, stressing the importance of such projects at moments when the whole world is facing difficult consequences of the pandemic.

Goal of the project funded by the World Bank’s loan is prevention, discovery and response to the Covid-19 pandemic-related threats, strengthening the national healthcare systems and helping the most jeopardised groups hit by the pandemic, the Finance and Treasury Ministry said.