By signing the Memorandum between Elektroprivreda BiH (EP BiH) and USAID will be enabled analysis of the permitting process for the construction of various types of power plants in Bosnia and Herzegovina, because in this way the investment in the electricity sector in Bosnia and Herzegovina wants to be lifted to a higher level.
USAID will monitor the permitting process, with a view to identifying the legislative, regulatory and administrative barriers that investors face when investing in BiH. Based on this analysis, USAID will recommend measures, at all levels, which will shorten and simplify procedures in order to encourage investment in new power plants in the country. To date, the Government of the United States of America (USA), primarily through USAID, has provided more than 1.6 billion dollars to help the economic, democratic and social progress in BiH.
The Director General of EP BiH Bayezid Jasarevic said that the contract provide legal cooperation to build a better framework electricity framework in BiH, since no concrete steps and actions can not talk about attracting investors to our country.
– For the recovery and further development of EP BiH as a reliable partner for energy supply, we need these contracts. This will also help us to sell the product and on the regional market. We express gratitude to USAID for recognizing this project and supported the most important elektroenergetoskom sector in BiH – said the director Jasarevic.
USAID has been working 20 years with EP BiH, according to the director of USAID Mission to BiH Peter Duffy and today’s news was met with joy.
– We would like to again collaborate with people from EP BiH and in all fields of work in the electricity sector because it is a sector that has huge potential and can enable economic development. Creating jobs is the biggest challenge for us in Bosnia and Herzegovina, and many studies show that BiH can double its potential for electricity, including hydro power, but also its renewable. Investors in this sector are facing challenges as well as in any other sector because they feel like there are in a maze where they need someone to show the direction in which to move and on what principles work. We welcome all efforts EP BiH in order to raise the sector to the next level – added Duffy.