The Ministry of Finance of Republika Srpska has terminated the loan agreement with the American fund „Global Bankorp Commodities and Investments“, announced by this ministry, reports Patria.
The RS Government and this American fund signed the Loan Agreement on October 15 last year, and according to the agreement, the first tranche of the loan was supposed to be disbursed in 2015. The RS Government counted on 300 million dollars from this American fund, but now they are left without that money.
The funds planned from the arrangement with the American fund were envisaged as one of the long-term sources of borrowing for Republika Srpska. In addition to this borrowing, the RS Government plans to further borrow from the World Bank, the International Monetary Fund, and through the issuance of bonds.
The RS Government explains that they will continue negotiations with Global Bankorp Commodities and Investments regarding new credit lines, writes NAP.
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