USAID, SIDA to extend USD 40mn for SMEs in Bosnia.

By bne IntelliNews October 21, 2010
A press conference on the signing of a USD 40mn (KM 56.5mn) credit portfolio guarantee agreement between two foreign donors and two local commercial banks will be held in Sarajevo today, Oct 21, the Fena news agency reported. The agreement will be signed between the US Agency for International Development (USAID) and the Swedish International Development Organization (SIDA) on one side, and local lenders Raiffeisen Bank d.d. Bosnia and Herzegovina and and Volksbank BH on the other. The money will be aimed at providing local SMEs with an easier access to financing and in this way will help promote job creation and economic development in the country, USAID officials said. The US and the Swedish ambassadors to BiH, Patrick Moon and Bosse Hedberg, will attend the event. The credit guarantee programme in BiH is the first joint activity of the two donors within the Global Memorandum of Understanding they signed in March.

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