European bank approves renewables funding for Bosnia

The European Bank for Reconstruction and Development (EBRD) has approved an additional 10 million euro (US$12.9 million) loan to promote energy efficiency and renewable energy in Bosnia and Herzegovina.

The loan to Raiffeisen Bank BiH is part of a wider European Union financing framework for the western Balkans. In 2008, EBRD approved a plan to establish a 50 million euro (US$64 million) Western Balkans Sustainable Energy Direct Financing Facility to provide financing for energy efficiency and renewable energy project development. (HNN 3/30/09)

The credit to Raiffeisen Bank is to be used for lending to private Bosnian companies investing in sustainable energy projects.

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