The agreement between Bosnia and Herzegovina and the European Bank for Reconstruction and Development (EBRD) on the European Union’s grant worth EUR 15 million was signed on Thursday to co-finance the new section of the Corridor Vc between Johovac and Rudanka, near Doboj.
The EU grant will be channeled through the Western Balkans Investment Framework (WBIF) and will complement EBRD’s loan of up to EUR 70 million.
According to Head of the EU Delegation and EU Special Representative in Bosnia and Herzegovina Lars-Gunnar Wigemark, the EUR 15 million grant is “one out of 11 projects funded by the European Union in Bosnia and Herzegovina, as a part of the Connectivity Agenda with a total of EUR 217 million approved for BiH so far”.
“At the recently held Western Balkans 6 Summit in Poznan, the EU endorsed a new Connectivity package that fulfils our EUR one billion pledge to the Western Balkans. Bosnia and Herzegovina is a large recipient of these grants. Four out of twelve new projects approved in Poznan are in BiH. These grants will be leveraging additional investments to build infrastructure to the benefit of citizens and the economy”, said Wigemark.
Head of EBRD Office in Bosnia and Herzegovina Ian Brown noted that signing of the agreement on Thursday illustrated the progress that was made with the construction of Corridor Vc. “We are confident that establishing better links within the country and connecting it better with Europe will serve the cause of deeper integration, and not only economically”, said Brown.
Corridor Vc is the main international transport corridor in Bosnia and Herzegovina, which supports economic development and contribute to regional integration by improving connectivity within Bosnia and Herzegovina and with its neighboring countries. Section between Johovac and Rudanka is approximately 6.1 kilometers long, and includes two interchanges.
The Corridor is expected to be completed by 2030 with the total cost estimated at approximately EUR four billion.