USAID Bosnia and Herzegovina and the British Embassy Sarajevo have signed a Memorandum of Understanding (MoU) on the promotion of cooperation in the energy sector in BiH.

This document defines cooperation in the energy sector reform process with the overall aim to support Bosnia and Herzegovina in fulfilling its obligations toward the Energy Community Treaty and its accession process to the European Union, according to USAID’s press release.

The Energy Community Secretariat has six open dispute settlement procedures against BiH.

Mission Director of USAID in BiH Peter Duffy underscored the importance of this cooperation adding that USAID has long worked closely with the leadership of BiH to support the energy sector, facilitate regional energy market integration, ensure energy security across the country, and assist in the creation of a competitive, market-oriented economy that provides better economic opportunities for all in BiH.

As BiH is faced with sanctions by the Energy Community for the failure to adopt necessary legislation,USAID and the British Embassy jointly commit to assisting the BiH institutions in meeting these requirements, Duffy said.

British Ambassador to Bosnia and Herzegovina, Matthew Field, said that the British Embassy Sarajevo and USAID have cooperated successfully in a number of activities regarding energy sector reform, including the development and adoption of the BiH Framework Energy Strategy, adoption of the FBiH Energy Efficiency Law, and public outreach activities, most notably the annual BiH Energy Summit.

By combining their expertise, the British Embassy and USAID will strengthen their cooperation in different energy related projects for the present and future beneficiaries in Bosnia and Herzegovina, Field noted.

According to the press release, the British Embassy and USAID decided to extend their cooperation in activities that will contribute to the successful transition of the BiH energy sector and adoption of necessary reforms.