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European Investment Bank and the European Union will support Bosnia and Herzegovina with a €204 million

February 28, 2020, Author: Editorial Team

The European Investment Bank (EIB) and the European Union will support Bosnia and Herzegovina (BiH) with a €204 million support package to develop a modern highway network along the Bosnian section of the pan-European Corridor Vc, a key road connection between Hungary, Eastern Croatia and the port of Ploče at the Adriatic Sea.

The European support package includes a €140 million investment from the EIB and a grant worth more than €64 million from the European Union for the construction of a 12.4 km highway infrastructure with four viaducts, two twin-tube tunnels, three bridges, one railway overpass, one road interchange, and an operation and traffic control centre. This will extend the existing highway network along the Corridor Vc with two new road sections, Tarčin-Ivan, located in the Canton of Sarajevo, and Poprikuše-Nemila in the Canton of Tuzla-Doboj.

The investment increases road safety in Bosnia and Herzegovina and contributes towards faster economic and social development of the country by creating a quicker, safer and more reliable long-distance transport link with Croatia, one of the country`s key export markets.

EIB Vice-President Dario Scannapieco said: “The EIB is particularly proud of our continuing commitment to the economic and social development of Bosnia and Herzegovina and the Western Balkans. This time, the EIB and the EU have blended their funds to create a €204 million financing package to help Bosnia and Herzegovina develop a modern highway network and enable easier and faster movement of people, goods and services along the key pan-European Corridor Vc. This investment will have a positive economic impact beyond Bosnia and Herzegovina, and will benefit citizens and businesses in Croatia, Hungary and the Western Balkans.”

To date, the EIB has invested €1.2 billion in transport projects in Bosnia and Herzegovina, bringing total investment across the country to more than €2.6 billion delivered in 72 different projects.

Original source: EIB
Published on 27 February 2020