World Bank loan to support Bosnia and Herzegovina Energy Transition

The World Bank has approved a substantial financial package to strengthen Bosnia and the Economic Energy Safety and Herzegovina transition.

On May 1, the Council of Executive Administrators sanctioned a loan of 79.90 million euros and a subsidy of 2.89 million euros to advance in the National Energy and Climate Plan of the country.

This strategic movement aims to improve energy independence, foster employment opportunities and strengthen local economies in the coal -moving regions.

The fair transition in the select coal regions of Bosnia and Herzegovina Project is expected to resolve subsequent land in Banovići, Zenica and Kreka.

This includes facilitating the closure of underground works in Zenica and installing renewable energy systems in the Banovići and Kreka mines.

In addition, the project will offer social protection programs and the development of competences for workers and communities that go from the coal sector.

The country manager of the World Bank of Bosnia and Herzegovina and Montenegro Christopher Sheldon said: “This new project is an opportunity to promote the energy security of Bosnia and Herzegovina while supporting the communities, ensuring that no one is behind.”

Bosnia and Herzegovina are committed to reducing greenhouse gas emissions and decarbonizing their electricity sector by 2050.

The support of the World Bank aims to ensure that the closures of the mines are managed ecological and socially responsible, while creating new employment opportunities and energizing the local economies of the old coal regions.

In a related development, the World Bank and the African Development Bank announced the terms in January of this year for African countries Access $ 40 million to Power Finance Through the Mission 300 Mission program.

This initiative aims to connect half of the continent’s population with the national network and the other half through out-of-network solutions such as solar mini-grains.

The program promises $ 30 million to banks, with an additional $ 10 million expected to private institutions, marking a significant step to address access to varied electricity in sub -Saharan Africa.

“World Bank loan to support Bosnia and Herzegovina’s Energy Transition” was created and originally published Power technologya brand of Globaldata property.

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