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

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.