Lender Approves €25 Million Loan for Sarajevo Water Network Upgrade

A loan of the European Bank for Reconstruction and Development will finance the reconstruction of water supply network in Sarajevo. The €25 million sovereign loan was granted to the Sarajevo Canton water and wastewater company. The loan agreement was signed on the final day of the EBRD 2017 Annual Meeting and Business Forum in Nicosia by EBRD Director for Municipal and Environmental Infrastructure, Susan Goeransson, and Bosnia’s Minister of Foreign Trade and Economic Relations, Mirko Šarović.

The loan will finance investments to reduce water losses in the network and improve the quality of services provided by the water utility company. This is the second transaction under the EBRD’s new Green Cities Framework which supports governments, municipalities, municipal-owned and private companies to address environmental challenges in urban areas, according to EBRD.

Ian Brown, EBRD head of Bosnia and Herzegovina, said: “Today’s signing, which will reduce water losses and help the Canton solve one of its most urgent problems, is an important part of our work in Bosnia and Herzegovina. This project will directly help to improve the access to water for the people of Sarajevo.”

Minister Sarovic added:  “I am delighted to sign this loan agreement today at the EBRD 2017 Annual Meeting and Business Forum in Nicosia. This funding from the EBRD is a welcome and much needed investment in the infrastructure in the Sarajevo Canton, and is further evidence of our cooperation with the EBRD.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s