SUPPORT TO MICROFINANCE SECTOR: CONSENT TO “MIKRA” FOR PROGRAMMATIC LOAN
The Council of Ministers of Bosnia and Herzegovina took a conclusion on granting its consent to “Mikra” microcredit foundation to apply to the Council of Europe Development Bank for a programmatic loan in microfinancing sector, proposed by the Ministry of Finance and Treasury.
The programmatic loan worth EUR 5 million is intended for financing microcredits to low-income citizens, especially women, clients form rural areas, farmers and micro-entrepreneurs. The microcredit categories include projects for improvement off energy efficacy of citizens.
The total costs of investments funded under the project are minimum EUR 10 million, of which EUR five million (50%) will be secured under a credit arrangement between “Mikra” Loan Foundation and the Council of Europe Development bank. The credit line is expected to be implemented by the end 2028, and the project completion is expected by June 30, 2029. By granting tis consent, the Council of Ministers makes no liabilities for Bosnia and Herzegovina in terms of indebting and guarantees issuing. The Ministry of Finance and Treasury of BIH will brief the Council of Europe Development Bank of the conclusion. (end)