News in English     | 09.07.2021. 11:42 |

New financial mechanisms for faster energy renovation of public sector buildings

FENA Press release

SARAJEVO, July 9 (FENA) - Energy production and consumption, especially in buildings, is the largest source of greenhouse gas emissions, according to estimates of the Typology of Public Buildings in Bosnia and Herzegovina for warming of buildings in the public sector according to current thermal protection standards it is necessary to invest more than 700 million KM.

This data indicates the need to activate private and commercial capital in order for public facilities to be energy efficient, and to achieve the goals of reducing greenhouse gas emissions by 33.2 percent by 2030, according to the Nationally Determined Contributions (NDC) of BiH.

At the proposal of the Ministry of Foreign Trade and Economic Relations of BiH, the Council of Ministers of BiH adopted the Framework for financing projects and energy efficiency measures in the institutions of BiH (NIF) in June 2021.

“NIF is one of the tools that encourages the implementation of more complex energy renovation projects in a way that does not compete with existing commercial forms of financing projects that are cost-effective without additional support, such as cost-effective projects to replace oil with biomass as fuel,” said Minister of Foreign Trade and Economic Relations of BiH Staša Košarac.

The adopted Framework creates structural, technical and financial preconditions for accelerating the process of warming public sector buildings, reducing energy consumption and significant financial savings in budgets. Additional encouragement of regulatory changes and a more harmonized approach to the distribution of public finances, as well as the development of capacities needed for project implementation. The development of this document was supported by the United Nations Development Program (UNDP), with financial support from the Green Climate Fund (GCF).

UNDP Resident Representative in BiH Steliana Nedera stated that, given that donations will be limited in the future, there is a need to develop other forms of financing the energy renovation of buildings.

“NIF focuses on ways to best complement existing financial programs in Bosnia and Herzegovina, and includes guidelines on how to mobilize private capital and commercial investment,” Nedera added.

For the implementation of energy efficiency measures, public institutions in BiH have so far relied on funding from their own budget, grants, earmarked subsidies from other public budgets, and international financial and development institutions.

In line with NIF recommendations, funding will be directed primarily to support combined fuel replacement projects and other energy performance improvements in buildings with a payback period of eight years or more, the UNDP said.

(FENA) A. B.

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