72 Million Euros Loan for Vlasic Wind Farm

October 8, 2020 2:00 PM

The Federal government has backed an initiative to secure 72 million Euros in loans from the European Investment Bank (EIB) and Kreditanstalt for Wiederaufbau, Frankfurt am Main (KfW) to build the Vlasic wind farm.

Information on the loan from the EIB and KfW for the implementation of this project was accepted, as a basis for conducting negotiations, and the Federal Ministry of Finance, the Federal Ministry of Energy, Mining and Industry and Public Enterprise Elektroprivreda BiH d.d. Sarajevo to appoint authorized representatives to the loan negotiation team.

The final decision on borrowing will be made after the end of negotiations with creditors with which the final terms of borrowing will be determined, according to which the ultimate debtor will be Elektroprivreda BiH.

The Federal Ministry of Finance will submit to the Federal Government information on the negotiations as well as the text of the agreed agreements between Bosnia and Herzegovina and the EIB and KfW, and forward today’s conclusion to the BiH Ministry of Finance and Treasury for further credit indebtedness.

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