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Serbia Energy Efficiency Project presented
Belgrade,
16 April 2004
Representatives of the Serbian Ministry of Energy and Mining and the World Bank presented at the Serbian Chamber of Commerce today the “Serbia Energy Efficiency Project,” worth $21 million.
Minister of Energy and Mining Radomir Naumov said that the World Bank has approved an interest free loan for this project, under the so-called IDA terms which include a 20-year repayment period and a 10-year grace period.
According to Naumov, the project aims to improve energy services and reduce energy costs in some public institutions. He explained that a program to modernise energy systems covers 11 hospitals, including the Clinical Center of Serbia, as well as 16 schools.
The investment should yield results in three year’s time, said Naumov and added that estimates show the project should take six years to implement.
According to Naumov, the project aims to improve energy services and reduce energy costs in some public institutions. He explained that a program to modernise energy systems covers 11 hospitals, including the Clinical Center of Serbia, as well as 16 schools.
The investment should yield results in three year’s time, said Naumov and added that estimates show the project should take six years to implement.
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