Investment Grant Agreement worth 19 million Euros between BiH and EIB to be signed soon?

September 20, 2019 7:00 PM

The Council of Ministers of Bosnia and Herzegovina (BiH) has approved the Proposal for an Investment Grant Agreement worth 19 million Euros between Bosnia and Herzegovina and the European Investment Bank, Corridor Vc – construction of the Zenica north – Zepce south highway section 4: Ponirak – Donja Gracanica, part I: Ponirak – Vraca ( exit from the Zenica tunnel) – LOT 1A.

The project involves the construction of a new section of the 2.8 km highway, including a 2.4 km long two-lane “Zenica” tunnel, which will significantly shorten the travel distance along the north-south corridor between Nemila and Zenica.

The project is expected to increase accessibility and promote regional and local economic development by increasing average annual daily traffic by more than 23% and linking the existing M17 road to Corridor Vc.

The total cost of the project is estimated at € 101 million, of which the EIB loan is € 50 million, the EBRD loan € 26 million, the Western Balkans Investment Fund grant € 19 million, to be implemented through the European Investment Bank, and others sources of financing in the amount of six million euros.

The draft agreement will be submitted to the BiH Presidency, and the Minister of Finance and Treasury is proposed as the signatory.

 

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