SARAJEVO, Bosnia and Herzegovina, June 14 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) has announced that it has approved three loans totaling €3 million ($3.1 million) to the Bosnia and Herzegovina microfinance institution Mi-Bospo in support of micro and small enterprises (MSEs) and to finance private investments in energy efficiency.

The EBRD has approved a senior unsecured loan of up to €1 million under the Western Balkans Green Economy Financing Facility II (WB GEFF II) to support investments in technologies, materials and high-performance green solutions undertaken in housing or private residential buildings, he said in a project summary document on Monday.

The lender will also provide a loan of up to €1.5 million to be on-lent to MSEs under the Financial Intermediaries Framework (FIF).

The third loan, for a maximum amount of 500,000 euros, will be on-lent to MSEs whose overall operational management responsibility or majority stake is held by a person under 35 years of age. The loan will be granted under the EBRD’s Western Balkan Youth Business Programme.

Mi-Bospo is a microfinance institution focused on lending to women borrowers, women entrepreneurs and agro-clients. Headquartered in Tuzla, Mi-Bospo has 193 employees and serves around 25,500 clients in the country through 38 offices.

($ = 0.9547 euros)