EP BiH and EP HZHB 35 million euros for business improvement

The Government of FBiH today adopted two decisions on accepting the debt of Federation of BiH under the Financing Agreement between the European Investment Bank and Bosnia and Herzegovina for the implementation of the Project “Electricity Distribution BiH - Construction of Smart Metering Systems in Electricity Distribution” in the amount of 35,000,000 euros, reports the BiH news agency Patria.

By adopting these decisions, the basis is created for signing the Subsidiary Agreement between BiH and FBiH, and then the loan sub-agreement between FBiH and JP Elektroprivreda BiH d.d. Sarajevo and JP Elektroprivreda HZ HB d.d. Mostar.

Based on the sub-agreement, FBiH will transfer the loan funds to Elektroprivreda BiH (15,000,000 euros) and Elektroprivreda HZ HB (20,000,000 euros), as the ultimate debtors and beneficiaries of the loan.

Otherwise, the project includes the construction and reconstruction of transformer stations with the aim of reducing technical electricity losses and improving voltage, reconstruction and construction of low-voltage networks, procurement and installation of electronic settlement meters for households that have the possibility of remote reading of consumed electricity, as well as remote disconnection and connection of consumers.