June 13 (SeeNews) - Bosnia's state-level government said it has approved a draft contract for taking a 12.9 million euro ($14.5 million) grant from the European Bank for Reconstruction and Development (EBRD) for the construction of Corridor Vc on its territory.
The decision was adopted by the Council of Ministers on Wednesday, the Council said in a statement.
The draft contract next needs the approval of the Bosnian presidency, the statement added.
The grant will go to the Serb Republic, one of the two autonomous regions that make up Bosnia and Herzegovina. The other is the Federation.
The Republic's motorway operator Autoputevi RS will use the grant to finance the construction of two ring roads (Tovira and Kostajnica) on the motorway and a 6.1-km motorway section between them, among others.
The EBRD already signed a 70 million euro loan agreement with Autoputevi RS in December 2017 for the project.
Corridor Vc has a total length of 700 km and connects the port of Ploce in Croatia with Budapest in Hungary via Bosnia and Herzegovina.
($=0.8868 euro)