SARAJEVO (Bosnia and Herzegovina), November 7 (SeeNews) – Bosnia's government has approved the issue of a guarantee to road company Autoputevi Republike Srpske for a 70 million euro ($80.4 million) loan from the European Bank for Reconstruction and Development (EBRD).
The loan will be used to finance the construction of the motorway sections of pan-European Corridor Vc between the Johovac and Rudanka tollbooths in the Serb Republic, the government said in a statement on Tuesday.
The Serb Republic is one of two entities that form Bosnia and Herzegovina, the other is the Federation.
In December, the EBRD said it is providing a 70 million euro loan for the expansion of the motorway infrastructure in Bosnia to strengthen the country’s integration and connectivity with the European Union.
Corridor Vc is the main international transport corridor in Bosnia and Herzegovina and its development is a strategic priority for the country. The road is part of the Western Balkans Core Network. It has been established as an extension of the Trans-European Transport Networks and will eventually link the Hungarian capital Budapest with the Croatian port of Ploce.
($ = 0.870389 euro)