EUR 47.5 Million for Renewable Energy



Deputy Chairman of the Council of Ministers and Minister of Finance and Treasury of BIH Vjekoslav Bevanda and Ambassador of the FR Germany in BIH Christian Hellbach signed today in Sarajevo a Financial Cooperation Contract for year 2012, worth EUR 47.5 million.

Minister Bevanda stated that his Contact enabled withdrawal of EUR 47.5 million through soft loans, in addition to EUR 500,000 grant funds, our of which 52 per cent will be allocated to the Federation of BIH and 48 per cent to Republika Srpska.

He said that these funds will be used to as credit proceeds to finance development  of hydroenergy and other renewable sources of energy projects, and grant funds will be used for accompanying measures for “Water Supply and Waste Water Management in BIH” Project.

Minister Bevanda thanked to authorities of the FR Germany for approving thus far in total EUR 600 million, out of which slightly less than EUR 100 million belong to grant funds.

Ambassador Hellbach said that through these projects Germany wants to support Bosnia and Herzegovina to use even better tis huge energy potential, stressing that it is not an assistance to budgets, because funds may be only used for concrete projects.

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