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Publish Date : 01-Jun-2017

The municipal government of Banja Luka, a city in Bosnia, has announced via issuing a statement on Monday that it has accomplished the signing of a debt refinancing agreement worth 73 million marka ($41.6 million/EURO37.3 million), with UniCredit Bank Banja Luka, the Bosnian division of UniCredit Bank.

According to the statement, Banja Luka Mayor Igor Radojicic has signed the deal with the UniCredit Bank Banja Luka Director Gordan Pehar.

Speaking after the signing ritual, the Banja Luka Mayor has stated that the debt refinancing is essential for the Bosnian city, without which implementation of the ongoing as well as the future projects would not have been possible for Banja Luka.

Radojicic has further said that the city has selected UniCredit bank as part of a global tender, which was participated by 11 commercial banks.

On his part, Pehar has stated that the newly signed refinancing deal marks the banks biggest such arrangement with a local government in Bosnia to date.

The municipal government of Banja Luka last week announced its pledge to set up a new district heating plant, and also decided to contribute in the project, with 15 million marka in funding.

Banja Luka is the biggest city of the Serb Republic, one of the two divisions that compose Bosnia and Herzegovina. The other division is the Federation.

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