EU agrees additional financing for Corridor Vc
The construction of Corridor Vc, the key infrastructure project the European Bank for Reconstruction and Development supports in Bosnia and Herzegovina, is progressing with new financing from the European Union.
A new €20.7 million grant provided by the EU will support the completion of the construction works on two sections: Buna-Pocitelj and tunnel Zenica-Donja Gracanica. Of the total amount, €15.5 million is an investment grant and will finance construction works, while the balance will finance technical assistance.
The grant funds have been secured through the EU-supported Western Balkans Investment Framework, which aims to help improve the region’s connectivity by building new transport links and upgrading outdated transport and environmental infrastructure. The grants complement an €80 million loan previously extended by the EBRD for the construction of the two sections. To date, the EBRD has invested €844 million for the construction of Corridor Vc, while the EU has provided over €145 milion in grant co-financing for the same sections.
The 325km motorway will cross the country from the border with Croatia near port of Ploce in the south to the border with Croatia in the north, contributing towards faster economic and social development. It is currently the biggest construction project in the country, estimated to cost approximately €3.7 billion.
