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EIB providing 1.2 mln euro to Bosnia's Serb Republic for water, sanitation project

EIB providing 1.2 mln euro to Bosnia's Serb Republic for water, sanitation project Source: European Union External Action

SARAJEVO (Bosnia and Herzegovina), September 13 (SeeNews) - The European Investment Bank (EIB) said it will provide 1.2 million euro ($1.4 million) to Bosnia's Serb Republic to help the entity improve water and sanitation services.

The funding will be used for a project aimed at increasing the quality of water and wastewater services and providing those services to unconnected households, thus improving living conditions for more than 216,000 people, the EIB said in a statement on Friday.

The EIB is providing the funds under its Economic Resilience Initiative (ERI), as part of the European Union’s response to the challenges in the Southern Neighbourhood and Western Balkans, through financial support for key infrastructure and private sector development.

"At a time when the world and region are facing dual crises caused by the COVID-19 pandemic and climate change, these kinds of projects help us prepare better for the future emergencies. Adaptation to climate change and mitigation of its consequences are essential for sustainable growth in the region. At the same time, this investment has direct benefits for people’s lives by ensuring them safe and reliable access to drinking water and wastewater services," Lilyana Pavlova, EIB vice-president responsible for Bosnia and Herzegovina, said in the statement.

To date, the EIB has invested 242 million euro for water and sanitation infrastructure and flood protection systems in Bosnia and Herzegovina.

The Serb Republic is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.

($ = 0.8487 euro)