EBRD approves 2 mln euro loan to Bosnia's Mikrofin

The European Bank for Reconstruction and Development (EBRD) said on Thursday it has approved a senior unsecured loan of up to 2 million euro ($2.2 million) to Bosnia's non-deposit microfinance institution Mikrofin for residential green investments.

The loan will be extended in two equal tranches under the Western Balkans Green Economy Financing Facility (GEFF) I, the EBRD said in a project description.

The second tranche would be uncommitted and its commitment would be in the EBRD's sole discretion.

Banja Luka-based Mikrofin is the largest non-deposit microfinance institution in Bosnia. It is owned by the citizens' association Mikrofin.

GEFF is a 135 million euro programme co-financed by the EU, the Austrian Federal Ministry of Finance, and bilateral donors to the Western Balkans Investment Framework (WBIF). It is implemented n partnership with the Energy Community Secretariat under the umbrella of the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus).

($ = 0.8937 euro)

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