You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Bosnia's cabinet oks 100 mln euro EIB loan for Pocitelj-Bijaca motorway project

Bosnia's cabinet oks 100 mln euro EIB loan for Pocitelj-Bijaca motorway project

SARAJEVO (Bosnia and Herzegovina), October 1 (SeeNews) – Bosnia’s cabinet said on Wednesday it approved a draft agreement for a 100 million euro ($126 million) loan from the European Investment Bank (EIB) to co-finance the construction of the Pocitelj-Bijaca motorway section.

The construction of the 21-kilometre section is estimated to cost a total 225 million euro, the Bosnian cabinet said in a statement on its website. The project will be co-financed by the state or other lenders.

The section is part of Corridor Vc, which connects the Croatian coast to the Hungarian capital Budapest via Bosnia.

The EIB loan should be repaid within 25 years with a grace period of six years, the statement added.

($=0.7920 euro)

Compare