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SARAJEVO (Bosnia and Herzegovina), February 21 (SeeNews) - The Kuwait Fund for Arab Economic Development (KFAED) has signed with Bosnia a loan deal worth 34.79 million euro ($39.44 million), to be used for the construction of the Nemila – Donja Gracanica section of the Corridor Vc motorway, it said.
The 20-year loan has a five year grace period and carries an interest rate of 2% annually, including a service charge of 0.5% annually for administrative costs, as well as costs for implementing the loan agreement, KFAED said earlier this week.
Another agreement in relation to the loan was signed between the Kuwait Fund and Bosnian motorway company JP Autoceste Federacije Bosne i Hercegovine
The 17.7 km stretch between Nemila and Donja Gracanica is divided into three sub-sections: Nemila – Vranduk; Vranduk- Ponirak; and Ponirak - Donja Gracanica.
Corridor Vc is a branch of the fifth Pan-European corridor. With a total length of 700 km it will connect Hungary and eastern Croatia to Bosnia and Herzegovina and the Adriatic Sea.
(1 euro = $1.13376)