The European Investment Bank (EIB) has allocated €340 million ($416 million) for the construction of the 36-kilometer (22-mile) section of road on Corridor Vc in the Balkans.
Corridor Vc is a key route on the pan-European network connecting the port of Ploce in Croatia with Hungary via Bosnia and Herzegovina.
This transport network is expected to ease commuting for 1.5 million people, contribute to road safety and promote regional cooperation. The EIB is planning to increase its financing to cover 90 percent of the total costs to advance project implementation.
“Modern, safer roads and better transport connections are vital for economic development, fluent trade and regional cohesion and can help attract new foreign investments,” said Lilyana Pavlova, vice president of EIB. “This transaction will help create new job opportunities and support Bosnia and Herzegovina’s post-COVID-19 recovery and integration with the regional and EU market.”
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