Bosnia: EBRD to provide 20.1 million euros loan to Elektroprijenos BIH

, SEE Energy News

The European Bank for Reconstruction and Development (EBRD) said that it is considering providing a loan worth 20.1 million euros to Elektroprijenos BIH, the company which manages the electricity transmission system of Bosnia and Herzegovina (BiH), for the project for modernization and upgrade of telecommunications system within the company.

The statement from the Bank said that the project is critical to the ongoing process of regional market integration and it will lead to improvements in cross-border trade and allocation of power transmission capacity through the improved ability to manage the transmission network that the modernized and upgraded telecommunications system will deliver. The estimated cost of the project is about 23.6 million euros.

The new telecommunications system will also significantly improve the reliability and stability of Bosnian electricity system and will be the first important step towards the full implementation of a smart grid in the country, leading to ultimately to a reduction of losses and hence carbon emissions.