SARAJEVO (Bosnia and Herzegovina), November 11 (SeeNews) – The government of Bosnia's Federation said on Thursday it approved borrowing 123 million euro ($134 million) from the World Bank and the European Bank for Reconstruction and Development for road infrastructure works.
The proceeds of a 58 million euro loan from the International Bank for Reconstruction and Development (IBRD), part of the World Bank Group, will be used to improve traffic safety on the entity's main roads, the government said in a statement following a weekly session.
The IBRD funds will cover, among other things, repair and reconstruction of bridges and tunnels, new construction or completion of vital road sections, the construction of bypasses around cities, the creation of slow lanes, as well as the rehabilitation of black spots and dangerous sections in the entity's road network.
A loan in the amount of 65 million euro from the European Bank for Reconstruction and Development will be used to repair flood damaged roads and upgrades.
The Federation is one of two entities that make up Bosnia and Herzegovina. The other is the Serb Republic.
($=0.917776 euro)