KfW to lend EUR 47.5 million for renewable energy projects


May 26, 2015





May 26, 2015




Vjekoslav Bevanda, deputy chair of the Council of Ministers and minister of finance and treasury, signed a financial cooperation agreement worth EUR 48 million with Christian Hellbach, ambassador of Germany in Bosnia and Herzegovina.

Bevanda said the deal enables withdrawal of EUR 47.5 million through favourable loans and EUR 500,000 of grant funds, of which 52% is going to the Federation of Bosnia and Herzegovina, the larger entity, and the remainder to the Republic of Srpska. He clarified that these funds will finance development of hydropower generation and other renewable sources projects, while grant funds are for a water supply and sewerage project. Bevanda thanked the authorities of Germany for approving EUR 600 million altogether to Bosnia and Herzegovina, including almost EUR 100 million of grants, and reported.

Ambassador Hellbach said that through the projects Germany wants to support Bosnia and Herzegovina to use its huge energy potential even better and he pinpointed that the funds are not for budgets but for concrete projects. The German government so far approved EUR 750 million through financial cooperation projects to Bosnia and Herzegovina, the embassy said.

Related Articles

Minister Dubravka Dedovic Djedovic Handanovic Female Leader of Energy Transition award

Minister Dubravka Đedović Handanović receives Female Leader in Sustainable Energy award

29 September 2023 - President of CPOR and Cofounder of WISE Serbia Branislava Jovičić handed the Female Leader in Sustainable Energy award to Minister Dubravka Đedović Handanović


Bulgaria could add as much as 42 GW from wind outside protected areas

29 September 2023 - A study found that Bulgaria is expected to increase its total wind power capacity by...


US, Canada approve financing for new nuclear reactors at Romania’s Cernavodă

29 September 2023 - US Exim Bank approved a USD 57 million loan and Canada offered CAD 3 billion in financing for new reactors in Romania's Cernavodă plant


EU moves to curb microplastics intentionally added to products

29 September 2023 - The ban is expected to prevent the release of about half a million tons of microplastics to the environment