Memorandum signed with Chinese corporation Sinusura: Significant incentive for financing major projects

The Minister of Foreign Trade and Economic Relations Mirko Šarović signed today a Memorandum of Understanding with the Chinese state-owned insurance corporation Sinosura, a key Chinese loan securitization company, which will significantly contribute to more favorable financing of the most important energy and infrastructure projects.

Sinosure is the first insurance company in the world, connected with 200 international banks. For the current projects in BiH, Sinosure has secured a US $ 1.4 billion guarantee.

"An example of good cooperation with Chinese banks and companies is certainly the project of TPP Stanari, which today is a profitable and successful company," said Minister Šarović, emphasizing that "this is the year in which we start big and important projects." "About ten large projects are in their final stage of realization, such as the TPP Bloc 7 project, one of the largest investment projects in the last 30 years.

The Chinese side also expressed interest in the project of TPP Gacko, a hydropower plant in the upper Drina River, and the highway Banja Luka - Prijedor and Vukosavlje - Doboj. "Cooperation with Bosnia and Herzegovina is of great importance for China and we will now even more strongly encourage our companies to invest in BiH," said Deputy Chairman of the Sinosure Corporation, Weiman Zha.

With the next Summit 16+1 approaching, as it has been announced for the beginning of July, works have also been intensified on the signing of a bilateral agreement between Bosnia and Herzegovina and the People's Republic of China in the field of veterinary medicine, which will quickly enable exports of honey, milk and dairy products to this large market. Also, there are plans to sign agreements that would promote cooperation in the field of tourism, which is especially important from the aspect of the current entry into force of the visa-free regime for the citizens of the two countries.