Energy Efficiency

Sarajevo Canton to take out loan for energy efficiency in 40 public buildings

Sarajevo-Canton-loan-energy-efficiency-40-public-buildings

Photo: Pixabay

Published

May 27, 2020

Comments

0

Share

Published:

May 27, 2020

Comments:

0

Share

The Sarajevo Canton government has approved taking out an EUR 8 million loan and accepting a EUR 2 million grant for an energy efficiency project in public buildings.

The funds will go towards a project called “Energy efficiency in public buildings of the Sarajevo Canton,” whose aim is to improve energy efficiency in about 40 public buildings – schools, hospitals, kindergartens, and other facilities of public interest.

The project will introduce cleaner and more energy efficient heating as well as better insulation and lighting, while improving the overall condition of the buildings, according to the cantonal government.

The improvements are expected to bring annual savings of about EUR 870,000

According to initial estimates, the improvements are expected to bring annual savings of about BAM 1.69 million (EUR 870,000). The consumption of energy will be reduced by up to 50% per facility, and the investment will be paid off from savings achieved in about ten years.

The investment will be paid off in about ten years

To enable the launch of works, the Sarajevo Canton government has adopted a decision on accepting a loan under an agreement between Bosnia and Herzegovina and the European Bank for Reconstruction and Development (EBRD).

The canton is also getting a EUR 2 million grant from the EU

The government has also accepted a EUR 2 million investment grant from the European Union’s (EU) Regional Energy Efficiency Program for the Western Balkans, based on an agreement between BiH and the EBRD.

The loan repayment period is 13 years

The loan, of EUR 8 million, comes with a repayment period of 13 years, a 3-year grace period, an interest rate equal to 6-month Euribor plus an annual margin of 1%, and a one-off 1% commission on the principal amount of the loan.

The next step is for the Sarajevo Canton government to sign a subsidiary agreement with the BiH Federation to transfer the loan to the canton.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Albania subsidize solar thermal collectors households up to 70

Albania to subsidize solar thermal collectors for households with up to 70%

03 October 2022 - Albania is conducting a program for the installation of solar thermal collectors for households, where it will cover 70% of the expenses

German investments Serbia depend availability of green electricity

German investments in Serbia depend on availability of green electricity

03 October 2022 - German government official Franziska Brantner said her country and Serbia share the objectives of a green transition

Two four European Sustainable Energy Awards Southeastern Europe

Two of four European Sustainable Energy Awards go to Southeastern Europe

26 September 2022 - Timea Farkas is the Young Energy Trailblazer at European Sustainable Energy Awards and the Minoan Energy Community won in the Local Energy Action category

EU Commissioner Simson this year EUSEW most important so far

EU Commissioner Simson: This year’s EUSEW is most important one so far

26 September 2022 - The European Sustainable Energy Week – EUSEW started today with top EU officials urging for a faster energy transition