SARAJEVO (Bosnia and Herzegovina), November 7 (SeeNews) - The government of Bosnia's Federation entity said on Thursday it supports the initiative to borrow 8 million euro ($8.9 million) from the European Bank for Reconstruction and Development to finance an energy efficiency project in the Sarajevo Canton.
The proceeds of the loan will be used to finance a project for increasing the energy efficiency of public buildings in the Sarajevo Canton, the Federation government said in a press release.
The final decision on taking out the loan will be adopted after the Sarajevo Canton's ministries of finance and spatial planning complete the negotiations with the bank.
The Sarajevo Canton, one of 10 constituent cantons of Bosnia's Federation, would be the end debtor of the loan.
The Federation is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.
($ = 0.902748 euro)