Peter Duffy, mission director of the United States Agency for International Development (USAID), and Bajazit Jašarević, general manager of Elektroprivreda Bosne i Hercegovine d.d. (Electric Utility of Bosnia and Herzegovina – EPBiH), signed a memorandum of understanding which defines cooperation between the state-owned company and USAID Energy Investment Activity (EIA) for the analysis of the permitting process for the construction of different types of electricity power plants in the country.
This is a milestone in harmonization in the field, the American agency stated on its website.
According to the press release, EPBiH and USAID EIA will focus on a number of investment projects in various regions for case study analysis. The value of the projects in which the domestic utility is planning to invest is more than BAM 1 billion (EUR 511 million). USAID EIA will monitor the permitting process with the goal to identify the legislative, regulatory and administrative barriers that investors face when investing in Bosnia and Herzegovina. On the basis of the analysis, it will recommend measures at all levels of government involved to shorten and simplify the procedures in order to stimulate investment in new power plants in the country, the statement said.
“The main objectives of USAID’s Energy Investment Activity are to help the country attract investment and create jobs in the energy sector. Transparent, consistent and comprehensive energy investment legislation, along with investment guidelines, is a first step to attract investors and ensure investment follow-through,” Duffy said. A vast number of permits and consents are necessary for power plant projects in the Balkan country, resulting in a fairly long procedure – even the most determined investors gave up and left, the statement said.