BiH, EBRD sign loan agreement for highway construction

0 Comment(s)Print E-mail Xinhua, May 10, 2019
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SARAJEVO, May 9 (Xinhua) -- Bosnia and Herzegovina (BiH) and the European Bank for Reconstruction and Development (EBRD) signed a loan agreement of 210 million euros (235 million U.S. dollars) here on Thursday.

During 2019 Annual Meeting and Business Forum of EBRD,the agreement was signed between EBRD president Suma Chakrabarti and BiH's Minister of Finance and Treasury Vjekoslav Bevanda, and the loan will be used for the construction of the highway in BiH,the ministry's press statement said on Thursday.

Bevanda said that the loan agreement will enable the construction of new 14 kilometers at the strategic 5C corridor highway, and the construction should be finished until the end of 2022, local media Fena reported on Thursday.

He highlighted that the terms of the loan are favorable with a repayment period of 15 years.

The official assessed the construction of highway corridor 5C as a crucial project, adding that a total amount of funds allocated for highway by EBRD are more than 800 million euros.

"This shows our commitment and further efforts to build infrastructure in this country and its further development," Chakrabarti emphasized.

Chakrabarti believes that BiH will be linked through the highway with the region and markets of the European Union (EU).

The EBRD has cumulatively invested over 2.3 billion euros in BiH in over 160 different projects since 1996, of which 82 percent are infrastructure investments. In 2018 alone, the EBRD invested 200 million euros in BiH, a significant increase compared with 130 million euros in 2017, BiH's Council of Ministers press release stated on Wednesday.

The EBRD kicked off on Wednesday its 2019 Annual Meeting and Business Forum here in Sarajevo.(one euro = 1.12 U.S. dollars). Enditem

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