Memorandum of Understanding on funding the project Block 7

The government of Federation BiH and Export-Import Bank of China-Exim Bank conculded Memorandum of Understanding on funding the project Block 7 – 450 MW at TPP Tuzla.

Memorandum of Understanding was signed by  FBiH  Minister of Finance Mr. Ante Krajina  and Governer of  Exim Bank  Mr. Li Ruogu  at  the third summit of leaders  People's Republic of China and the countries of Central and  Eastern Europe held in Belgrade on December 16 and 17,  2014. 
The ceremony of signing the Memorandum attended dr.Elvedin Grabovica General manager of Elektroprivreda BiH and mr. Amil Kamenica, Executive manager for capital investment .
The Memorandum of  Understanding represents continuity of activities of FBiH Government with aim to provide loan  for Block 7 and base for acceleration of procedure for loan  approval submitted to the  Exim Bank in amount of 667, 8 milion Eura  what is 85 procent of the contract value for construction of  Block 7  .
The loan was required within  funds intended by China Government  to   the countries of Central and  Eastern Europe  . 
Block 7 at TPP  “Tuzla” is project of high priority having support from  the  Council of Ministers BiH and key role in development of energy sector BiH , electricity generation and promote of economic and trade cooperation between the Peoples Republic of China and Bosnia and Herzegovina , was contained in the Memorandum .
The  Exim Bank is in process of  the project evaluating  and loan application for what have guarantor  from  Federation BiH . In the next period  the  common group made by Memorandum  will have activities on harmonization of details  from the loan contract . 
The Block 7 construction will start after having consent on  the loan Contract  from  the FBiH Government and Parliament BiH.