Japan grants EUR 90 million loan to Bosnian power firm: report
(BANJA LUKA) - Japan has granted a Bosnian mining and power firm a 90-million-euro (124-million-dollar) loan, the local SRNA news agency reported Wednesday.
"The Japanese ambassador (Futao Motai) brought a document confirming that his government granted 90 million euros on a long-term basis to RitTe Ugljevik" company, Bosnian Serb Prime Minister Milorad Dodik said according to SRNA.
The loan, to be used to revamp the state-owned mining and power firm Rudnik i Termoelektrana (RiTe) Ugljevik in northeastern Bosnia, has a 10-year grace period and a 30-year duration, a government spokesman told AFP.
Officials said earlier they were planning major investments in the company, notably to construct a new 400 Megawatt power unit.
Since its 1992-1995 war, Bosnia consists of two highly autonomous entities -- the Serbs' Republika Srpska and the Muslim-Croat Federation. Each has its own government.
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