Bosnia’s Serb Republic to set up EUR 255 mln fund to back economy

Tourism

Photo by Alexandros Michailidis/Shutterstock.com

Bosnia’s Serb Republic will establish a fund of some BAM 500 million (EUR 255.6 million) to aid the economy affected by the coronavirus outbreak, the Serb member of Bosnia’s collective presidency, Milorad Dodik, said, regional news portal SeeNews reported.

Chairman of the Presidency of Bosnia and Herzegovina, Milorad Dodik. Photo by Alexandros Michailidis/Shutterstock.com

“The fund represents money that will come from some international institutions, but there will also be allocation of resources from our public accounts,” Dodik said on March 26 on local Alternativna TV’s YouTube channel, as quoted by SeeNews.

He also said that the entity government’s priority is maintaining payments to workers who should receive guaranteed salaries of some BAM 520 (EUR 265.9), as well as providing assistance to the most affected business areas, such as the clothing sector.

The government will also request that banks postpone loan repayments for citizens or interest payment for companies during the coronavirus crisis.

The Republika Srpska is one of two autonomous entities forming Bosnia and Herzegovina. The other is the Federation of Bosnia and Herzegovina. 

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.