CEOL - EU releases 25 mln Euros of Bosnia economic aid

BRUSSELS, Dec 22, 1999 -- (Reuters) The European Commission said on Wednesday it had released 25 million euros in macro-economic aid to Bosnia, part of a planned 60 million euros contribution to an International Monetary Fund(IMF)-backed reform plan.

"The macro-financial assistance will help cover the financing needs of Bosnia and Herzegovina and underpin its transition towards a self-sustained market based economy," the Commission said in a statement.

The initial aid package consists of a grant of 15 million euros and a loan of 10 million euros. It was agreed by European Union finance ministers in May 1999

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