USAID, SIDA provide USD 40mn credit guarantee for Bosnian SMEs.

By bne IntelliNews October 22, 2010
USAID and Swedish SIDA are providing a credit guarantee portfolio to local banks Raiffeisen Bank and Volksbank BH, enabling the two lenders to provide additional financing for SMEs, newswire Onasa reported. This credit guarantee programme is the first one implemented in Bosnia under the global agreement, which USAID and SIDA signed in March. The programme would allow for the creation of new jobs and the development of entrepreneurship in the country, thus contributing to its faster economic recovery. So far, USAID has provided some USD 1.5bn in support of the economic and democratic development and the social cohesion in Bosnia. Since 1998, SIDA has provided USD 450mn in support to the country. At the agreement signing ceremony, US Ambassador to BiH Patrick Moon acknowledged the progress Bosnia has made towards EU membership, but underlined that more and deep reforms should be implemented.

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