The European Investment Bank (EIB), the climate bank of European Union, will provide a €300 000 grant to Elektroprivreda Bosne i Hercegovine to conduct an environmental assessment of the Vlašić site of a new windfarm.
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This technical assistance will facilitate the construction of a 50 MW windfarm in the Travnik region, which will support the transition to renewable, secure and sustainable energy resources, as well as the decarbonisation of the local and Western Balkan economy.
As the second grant signed for Bosnia and Herzegovina under the new branch EIB Global, it demonstrates the Bank’s determination to scale up its technical and financial support for addressing the country’s most urgent needs and green transition process.
More specifically, the EIB grant will help develop a biodiversity management plan outlining the management action to be taken in line with the highest EU environment protection practices.
The funds are being provided under the EIB’s Economic Resilience Initiative (ERI), as part of the EIB’s and European Union’s response to the challenges in the Western Balkans by providing financial support for infrastructure and private sector development.
Within the spirit of Team Europe, the project will be implemented under the Mutual Reliance Initiative (MRI), which provides enhanced expertise to make project preparation and financing more effective.
Under the Western Balkans Investment Framework, the EIB has already provided around €655 000 in grants. The funds are being used for developing the feasibility study for the construction of the Vlašić windfarm, including the implementation of initial measures, wind analysis, geographical research, research in the field of zero carbon emissions, the development of the study on the environment and social impact, and the preparation of tender documentation.
Since the start of the COVID-19 crisis in February 2020, the EIB has unlocked €658 million in loans for Bosnia and Herzegovina and six grants to support the sustainable development of the country. ■