BUSINESS

Federal Government accepted 11 Million Euros worth Grant for Vc Highway

Today, the Federation of Bosnia and Herzegovina accepted the grant intended for financing the Project Corridor VC “Mediterranean Corridor CVC: Bosnia and Herzegovina road interconnection with Croatia, subsection and Tarcin – Ivan” under the Grant Agreement concluded in Sarajevo on July 29 this year between BiH and the European Investment banks (EIB) in the amount of up to EUR 11,780,000.

The grant funds will be used to implement a project to build an approximately 4.9km long new section of highway, including two bridges and a rest area in central Bosnia and Herzegovina.

The Federal Ministry of Finance and Public Enterprise “Autoceste FBiH d.o.o.” are in charge of the implementation of this decision.

Consent was given for the conclusion of the Subsidiary Agreement between the Beneficiary and the Federation and the Sub-Grant Agreement between the Federation and the PE “Autocesta FBiH” for these funds.

The Federal Minister of Finance has been authorized to sign the Subsidiary Agreement and the Sub-Grant Agreement, the Federal Government stated.

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