Bosnia and Herzegovina, ERS will take a 5.1 million euros commercial loan

, SEE Energy News

Bosnian state-owned power utility ERS said that it will take a 5.1 million euros commercial loan from local Nova Banka.

The statement from the company said that Nova Banka was the sole bidder at the render for the loan, with total loan costs amounting to some 230,000 euros. However, ERS did not disclose any details regarding the purpose of this loan.

In April, ERS has signed a 15.3 million euros loan agreement with UniCredit Bank Banja Luka, which will be used for the development of HPP Bistrica project. UniCredit Bank Banja Luka submitted the most favorable offer at the tender launched by ERS in February looking for a loan with one year maturity and fixed annual interest rate of up to 2.95 %.