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Bosnia to seek 300 mln euro EIB loan for Corridor Vc motorway project

Bosnia to seek 300 mln euro EIB loan for Corridor Vc motorway project European Investment Bank

SARAJEVO (Bosnia and Herzegovina), June 24 (SeeNews) - Bosnia's government said it plans to negotiate a 300 million euro ($316 million) loan with the European Investment Bank, to be used to finance the construction of a motorway section of European Corridor Vc.

The funding would be allocated to Bosnia's Federation entity for the construction of a 35-kilometre motorway section from Ovcari to Mostar North, Bosnia's Council of Ministers said in a statement on Thursday.

The maximum loan repayment period is planned to be 25 years, including a grace period of six years, according to the statement.

The country also plans to get an additional loan from the European Bank for Reconstruction and Development for the project, the Council of Ministers said.

Corridor Vc connects the port of Ploce in Croatia with Budapest in Hungary via Bosnia and Herzegovina.

The Federation is one of two autonomous entities that form Bosnia and Herzegovina. The Serb Republic is the other entity.

($ = 0.9493 euro)

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