FBiH Government Justified Investments of the European Bank for Reconstruction and Development

niksic (1)The Prime Minister of the FBiH Nermin Nikšić received yesterday a high delegation of the European Bank for Reconstruction and Development (EBRD), where the President of EBRD Sir Suma Chakrabarti and the Director of JP Autoceste FBiH d.o.o. Mostar Ensad Karić signed an agreement on project Corridor 5C.

Prime Minister Nermin Nikšić confirmed that EBRD would remain in BiH and that it is interested in expanding cooperation, and this year expects an investment of 150 million euros.

“We have opened a number of areas around the development of future strategies of EBRD for the FBIH and for BiH, such as opening of a new privatization process, question of further participation in infrastructure and public-private partnership when it comes to the energy sector’’, said Nikšić.

In the construction of Corridor 5C with the support of the administration of the EBRD, it is being continued as “the ambition of the FBiH government to be a government that would build more highways for three years, than in the last years put together’’.

Nikšić expressed satisfaction that the FBiH government justified the investment of EBRD and that it proved to be a high-quality and transparent implementer of funds from the EBRD and in the development of the FBIH.

“The obligations of JP Autoceste FBiH through the signed agreement on project Corridor 5C are reports on the implementation of projects, delivery of financial reports on the realization of projects and reports on compliance with environmental regulations and standards’’, said the Director of JP Autoceste FBiH d.o.o. Mostar Ensad Karić.

The agreement of this project defines activities of JP Autoceste FBIH towards future projects and new models of financing.

The President of EBRD Sir Suma Chakrabarti said that the agreement is specifically based on the investment of 25 million euros in the part of Suhodol –Tarčin and especially a part of the road that is linked to the border crossing Bijača.

“We have agreed on reforms that are necessary to implement. This is an implementation strategy that is based on private-public partnership and its participation, and he rejoiced in the medium-term business plan and implementation of a new system for the management of information’’, said Chakrabarti.

He stated that infrastructure is of vital importance of BiH, and Chakrabarti pointed out the necessity for the business environment in BiH to improve because all investors compare BiH with countries in the region.

This is why the governments have to consider issues such as corruption and other problems in the work of a company, he said.

Prime Minister Nikšić thanked the previous investments of EBRD in infrastructure, on Corridor Vc, while Chakrabarti expressed satisfaction for the excellent cooperation with JP Autoceste and the FBiH government.

The President of the EBRD is on his first official visit to BiH, which is the biggest investor in BiH.

The first agreement for the construction of a road for Corridor Vc was signed in 2008 in the amount of 180 million euros.

JP Autoceste FBiH is realizing projects worth 205 million euros with EBRD.

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