Libya to invest 760 million dollars in Bosnia

Finance Minister said "the Libyan government plans to invest up to 500 million euros in various projects in both private and state-owned sector."

Libya to invest 760 million dollars in Bosnia

Libya intends to invest up to 500 million euros (760 million dollars) in Bosnia, the north African country's finance minister, Mohammed Houij, said Friday.

"The Libyan government plans to invest up to 500 million euros in various projects in both private and state-owned sector," Houij told reporters through an interpreter.

He did not specify the time-frame for the investment, only saying that the it would be implemented through a development bank of Bosnia's Muslim-Croat half.

Bosnia was split into two highly autonomous entities, the Muslim-Croat Federation and the Serbs' Republika Srpska, at the end of its devastating 1992-1995 war.

Despite an influx of more than 3.3 billion euros in international aid, the republic has struggled to overcome economic woes and attract foreign investment.

Agencies

Last Mod: 15 Haziran 2008, 16:38
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