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The European Investment Bank (EIB) has signed an €11.8 million grant with Bosnia and Herzegovina to finance the construction of the 6.9 km-long Tarčin-Ivan section of motorway along the the pan-European Corridor Vc. The EU grant comes from the Western Balkans Investment Framework (WBIF) and complements an earlier EIB loan worth €40.4 million approved by the EU bank for the same section of the Corridor Vc.
The EU Ambassador to Bosnia and Herzegovina, Johann Sattler, explains why investment in large public investment programmes is very important: “The EU has allocated grants worth more than €200 million of grants under the Connectivity Agenda to help Bosnia and Herzegovina accelerate the construction of the Corridor Vc in the country. The construction work did not stop even during the coronavirus pandemic. The protective measures put in place in all active construction sites are a very positive sign as they mean retaining jobs in these difficult times. Large public investment programmes most importantly generate new jobs and the acceleration of construction is more necessary than ever to mitigate the adverse impact of the pandemic.’
Corridor Vc is the most ambitious investment programme in Bosnia and Herzegovina. The Corridor will improve regional connectivity, reduce travel times and increase road safety along the route connecting the main economic and administrative centres in the country. Corridor Vc will also contribute towards faster social and economic integration of the Western Balkans and the European Union.
This is an adaptation of an article published by the Delegation of the European Union to Bosnia and Herzegovina. Read the original article.