The European Bank for Reconstruction and Development’s €65 million loan to Macedonian electricity generation utility ELEM for construction of Boskov Most hydropower plant has been cancelled as conditions for disbursement were not met.

The loan for the project in Mavrovo National Park was available for five years but this has now expired, with the loan cancelled with no disbursements given.

The 70MW Boskov Most project  is planned to be located near the town of Debar in western FYR Macedonia. The project is intended to utilise fully the hydropower potential of the tributaries that combine to make up the river Mala Reka and will include a dam and reservoir near the village of Tresonce. Annual generation was forecast to be around 118GWh.