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EU extends additional €45 million in grants for Corridor Vc in BiH
The European Union is stepping up its support for Corridor Vc, the key transport infrastructure project in Bosnia and Herzegovina, with additional grant funding of €45.2 million. This brings the total amount of approved EU grants for Corridor Vc to more than half a billion euro. The grant funding agreement signed on 27 April will pay the ongoing construction works on two Poprikuše-Nemila motorway sections worth €36 million, with a €9.2 million investment grant for the Ivan Tunnel.
Corridor Vc is a pan-European transport project, and the 325-kilometre section in Bosnia and Herzegovina will cross the country from north to south, bring Bosnia and Herzegovina closer to the EU and eventually connecting the Adriatic port of Ploče in Croatia with the Hungarian capital, Budapest.
The motorway is co-financed from EU grant resources and by favourable loans from the European Bank for Reconstruction and Development and the European Investment Bank (EIB).
The grant funds have been secured through the EU-supported Western Balkans Investment Framework which aims to improve the region’s connectivity by building new transport links and upgrading outdated transport and environmental infrastructure. The development of Corridor Vc is a strategic priority for Bosnia and Herzegovina and is expected to contribute to faster economic and social development.
Source: EU Delegation to Bosnia and Herzegovina
Photo credits: EU Delegation to Bosnia and Herzegovina
