EBRD provides €76M for the construction of additional sections of the Corridor Vc motorway in Bosnia and Herzegovina

EBRD provides €76M for the construction of additional sections of the Corridor Vc motorway in Bosnia and Herzegovina

LONDON, 27-Dec-2016 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) is continuing its support for the development of transport infrastructure in Bosnia and Herzegovina.

The development of Corridor Vc is a strategic priority for Bosnia and Herzegovina and has been established as an indicative extension of the Trans-European Transport Networks (TEN-T). Corridor Vc is included as the main priority in the country’s Framework Transport Strategy 2016-2030. To help finance the construction of this key corridor, the EBRD is providing €76 million to finance the construction of additional sections of the Corridor Vc motorway – the Svilaj-Odžak section in the north of the country and the Donja Gračanica-Klopče section near Zenica in central Bosnia.

The second project is a €10 million loan to finance the upgrading of facilities at the port of Brčko and improving road and railway access to the harbour. Brčko is a town in northern Bosnia and Herzegovina which lies on the Sava river. Brčko port is the only inland river port in the country and is a transit point for cargo traffic flows to and from heavy industries in Bosnia and Herzegovina.

The planned investments will significantly improve the operational efficiency of the port which is currently limited by rail access that passes through the town centre and outdated infrastructure and handling equipment. The planned relocation of the railway line will not only bolster the port but also allow for urban development along the existing railway route. The Sava river links Brčko with the Danube, south-eastern Europe’s major waterway.

Sue Barrett, EBRD Director, Transport, said: “We are pleased to continue our support for the development of Bosnia and Herzegovina’s main international corridor Vc to improve connectivity and integration, which in turn will open new opportunities for the country’s economy. The modernisation of Brčko port, the EBRD’s first inland port project, promotes multimodal and low-carbon transport systems and is a key milestone in the development of river transport on the Sava, which we are also delighted to support.”

Vjekoslav Bevanda, Deputy Chairman of the Council of Ministers of Bosnia and Herzegovina and Minister of Finance and Treasury, added: “We are grateful to the EBRD for its continuous support for the development of Bosnia and Herzegovina’s transport infrastructure. These two projects will support national economic development and regional integration through the improvement of connectivity between the main cities and between Bosnia and Herzegovina and its neighbouring countries.”

Since the beginning of its operations in Bosnia and Herzegovina, the EBRD has invested more than €1.9 billion in 135 projects in the country. The EBRD’s strategic priorities for the period 2016-18 for its countries of operations are re-energising growth, strengthening regional integration and addressing global challenges.

SOURCE: European Bank for Reconstruction and Development

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