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IMF Approves 553Mln Euro 3-Year Assistance Package for Bosnia and Herzegovina

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IMF executive board has approved a three-year assistance arrangement for Bosnia and Herzegovina. 07.09.2016, Sputnik International

2016-09-07T20:00+0000

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IMF Approves 553Mln Euro 3-Year Assistance Package for Bosnia and Herzegovina

20:00 GMT 07.09.2016

The seal of the International Monetary Fund is seen at the headquarters building in Washington, DC on July 5, 2015 - Sputnik International

IMF executive board has approved a three-year assistance arrangement for Bosnia and Herzegovina.

Bosnia and Herzegovina Officially Applies for EU Membership

15 February 2016, 09:00 GMT

WASHINGTON (Sputnik) — The International Monetary Fund’s (IMF) executive board has approved a three-year assistance arrangement for Bosnia and Herzegovina in the amount of €553.3 million, the IMF announced in a release on Wednesday.

"The Executive Board’s decision will enable an immediate disbursement of SDR 63.4125 million (about €79.2 million)," the release stated.

The remaining aid will be disbursed to the Bosnian authorities in 11 instalments upon quarterly reviews of the economic progress, according to the IMF.