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News / EU signs €70 million Financing Agreement for Energy Support Package for Bosnia and Herzegovina
The European Commission has signed and sent to Bosnia and Herzegovina the Financing Agreement for the Energy Support Package worth €70 million that will provide assistance to Bosnia and Herzegovina’s most vulnerable households to cope with rising prices and support energy transition.
The Council of Ministers of Bosnia and Herzegovina will now need to approve and countersign the Agreement to receive the first tranche of the allocated funds of around €63 million. Before the money is disbursed, BiH is expected to receive a positive assessment from the European Commission on progress in implementing the Action Plan approved by the BiH Council of Ministers on 22 December 2022. This Action Plan lists the measures that the BiH authorities will take to use the funds from the Energy Support Package and enable the country’s energy transition.
The Energy Support Package for the Western Balkans was announced by European Commission President Ursula von der Leyen during her visit to the region in October 2022. It allocates a total of €1 billion for the region –€500 million in immediate assistance and €500 million in medium to long-term support.
Photo credits: EU Delegation to Bosnia and Herzegovina
Source: EU Delegation to Bosnia and Herzegovina
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