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.