By Reuters Staff
2 Min Read
BELGRADE, Dec 12 (Reuters) - The World Bank said on Saturday it had approved a $65.3 million loan to Bosnia to help the Balkan country’s micro, small and medium-sized enterprises withstand the coronavirus crisis.
The loan will be used to boost longer-term financing for businesses hit by the pandemic downturn and to fund programmes focused on increasing their use of technology.
“This project will . contribute to a recovery that is resilient to future shocks,” Emanuel Salinas, World Bank Country Manager for Bosnia and Montenegro, said in a statement.
According to Bosnia’s central bank, the economy of the former Yugoslav republic is set to contract by 4.6% this year. Just over 100,000 people in Bosnia have contracted COVID-19 and 3,298 have died.