EU and EIB support construction of Corridor Vc, improving transport connections in BiH

The European Union and the European Investment Bank will support Bosnia and Herzegovina with €204 million to develop a modern highway network along the BiH section of the pan-European Corridor Vc, a key road connection between Hungary, Eastern Croatia and the port of Ploče at the Adriatic sea.

The support package includes a €64 million grant from the European Union and a €140 million investment loan from the EIB for the construction of 12.4 km-long highway infrastructure with four viaducts, two twin tube tunnels, three bridges, one railway overpass, one road interchange, and an operation and traffic control centre.

Head of the EU Delegation and EU Special Representative in BiH Ambassador Johann Sattler underlined that the EIB investments complement the joint efforts by the EU, the EBRD and Bosnia and Herzegovina to complete Corridor Vc motorway. “I am pleased that Bosnia and Herzegovina has secured financing for additional sections of Corridor Vc because modern transport links are key for growth and economy development of any country aspiring to join the European Union. Recognising these benefits for its citizens, the European Union will provide over € 200 million in grant funding to speed up construction of thirteen major connectivity projects in Bosnia and Herzegovina“, said Ambassador Sattler.

The finance agreement was signed today in Sarajevo by Minister of Finance of Bosnia and Herzegovina Vjekoslav Bevanda and the Head of EIB Lending Operations in Croatia, Slovenia and Western Balkans Matteo Rivellini who said “today we make another important step forward to complete this complex infrastructure project that will enable safer movement of citizens and goods within Bosnia and Herzegovina and beyond for the decades to come.

Vjekoslav Bevanda, Minister of Finance of BiH, said: “There is no need to emphasize the importance of each kilometre on Corridor Vc motorway or how complicated these activities are. Therefore, we are grateful to the European Investment Bank for their recognition of projects of such importance.I hope the deadlines will be observed and that we will soon see new construction sites and new motorway kilometres in BiH.”

The Corridor Vc is 702km long road network, with 318 km of the route traversing through BiH. Thanks to the Agreement signed today, the existing highway network along the Corridor Vc in BiH will be extended with two new road sections, Tarcin-Ivan and Poprikuše-Nemila. Corriodr Vc will increase road safety and contribute towards faster economic and social development of BiH.