March 26 (SeeNews) - Bosnia's Federation entity government said on Thursday it has approved plans to borrow $20 million (18.3 million euro) from the World Bank to be used to mitigate the negative economic impact of the coronavirus disease (COVID-19).
The proceeds of the loan should be used for the purchase of medical equipment, building facilities for urgent medical assistance, removal of medical waste, food aid, and social support, overtime and work payments to medical workers during the state of emergency, the entity's government said in a statement.
The final decision on the loan will be adopted after negotiations with the World Bank, as the redistribution of the funds between Bosnia's two autonomous entities will be determined before or during the process.
The Federation is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.
(1 euro = 1.95583 marka)