Development Bank's Profit of 3 Million KM to Go Towards Flood-Affected Areas Reconstruction

The Government of the Federation of BiH today, in its capacity as the Assembly of the Development Bank of FBiH, made several decisions regarding the allocation of funds intended for the repair of damage caused by natural disasters, reports the BiH news agency Patria.

The Management proposed, and the Assembly of the Development Bank accepted, that the Bank's entire profit from last year, amounting to 3,273,376.49 convertible marks, be allocated to areas affected by natural disasters and paid into a donor account.

A Decision was also made to establish a credit line at the Development Bank for financing current operating assets for flood-affected areas in FBiH. The funds will be provided with a repayment period of three years, a grace period of six months, and an annual interest rate of two percent, reports Patria.