Germany writes off EUR 20 million from debt of BiH

After it met the relevant prerequisite by investing EUR 4 million in the rehabilitation of hydropower plants of Trebinje and Rama, Bosnia and Herzegovina had EUR 20 million of its debt written off by Germany.

The government in Berlin had pledged to the move if BiH invests a set amount in the advancement of its renewables sector, the country’s embassy in Sarajevo said in a statement made available to SeeNews. Ambassador Christian Hellbach welcomed the strengthening of financial cooperation between the two countries and said that by encouraging Bosnia and Herzegovina to invest in its renewable energy sector, Germany has „indirectly contributed to climate protection,” the press release adds. There is still potential in the field, which is very significant for development, according to the embassy.

So far, Germany has made EUR 750 million available to BiH within the financial cooperation programme, the embassy said.