July 11 (SeeNews) - The European Commission (EC) has approved 275 million euro ($321.7 million) in financing for Corridor Vc road construction projects in Bosnia and Herzegovina, the Council of Ministers of Bosnia and Herzegovina said.
The EC will extend financing of 150 million euro for the construction of Tarcin-Konjic and Buna-Pocitelj sections of Vc corridor plus 125 million euro for technical support and will provide grants of 38 million euro and 5 million euro for infrastructure projects, the government said in a statement on Tuesday.
It is essential to keep the focus of the EU on the enlargement process as positive messages should be sent to the Western Balkans, the chairman of Bosnia's state-level Council of Ministers, Denis Zvizdic, said in London during the fifth annual Western Balkans Summit under the Berlin Process.
Bosnia will begin tendering for the construction of priority motorway sections along the European transport Corridor Vc, worth a combined 235 million euro, in the second half of the year, the European Bank for Reconstruction and Development (EBRD) said in May.
Corridor Vc is the main international transport corridor in Bosnia and Herzegovina and its development is a strategic priority for the country. The road is part of the Western Balkans Core Network. It has been established as an extension of the Trans-European Transport Networks and will eventually link the Hungarian capital Budapest with the Croatian port of Ploce.
($ = 0.8547 euro)