World Bank Fuels Bosnia's Energy Shift with $90.7 Million Loan
The World Bank approved a $90.7 million loan and a $3.3 million grant to aid Bosnia in transitioning to renewable energy. It aims to revitalize former coal regions, bolster energy independence, create jobs, and support communities. Challenges remain as Bosnia's renewable goal lags.
- Country:
- Bosnia And Herzegovina
The World Bank has sanctioned a substantial $90.7 million loan dedicated to fostering Bosnia and Herzegovina's transition toward renewable energy. This initiative, aligned with the nation's energy and climate agenda, aims to transform the economy of former coal regions.
Efforts will be focused on repurposing ex-coal mines in Banovići and Kreka with renewable energy installations. Additionally, underground operations in Zenica will be closed, while social protection and worker retraining programs will ensure support for the displaced workforce.
Christopher Sheldon, the World Bank's Country Manager for Bosnia and Montenegro, emphasized the project's potential to enhance Bosnia's energy security without neglecting impacted communities. Despite these initiatives, Bosnia's transition to renewables remains sluggish, with coal still dominant in its energy mix.
(With inputs from agencies.)
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