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News / EU steps up support to Corridor Vc in Bosnia and Herzegovina
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 €14.6 million. The funds will be used to finance the supervision of works contracts on five motorway sections that are financed with loans provided by the European Bank for Reconstruction and Development (EBRD) and the grant funding will reimburse the supervision costs incurred by two motorway companies to date.
Corridor Vc is a pan-European transport project reconnecting the continent. The section in Bosnia and Herzegovina will be 325 kilometres long, crossing the country from north to south, eventually connecting the Adriatic port of Ploče in Croatia, and with the Hungarian capital, Budapest. The motorway, which will bring Bosnia and Herzegovina closer to the EU, is co-financed by loans from the EBRD and the European Investment Bank (EIB) and grant resources form the EU. To date, the EBRD has provided loans worth €850 million from its own resources, while investment and technical assistance grants extended by the EU have totalled over €220 million. The development of Corridor Vc is a strategic priority for Bosnia and Herzegovina and is expected to contribute to faster economic and social development. With 148 bridges and 46 tunnels, the motorway is currently the largest construction project in the country.
Source: Delegation of the European Union to Bosnia and Herzegovina
Photo credits: Delegation of the European Union to Bosnia and Herzegovina
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