May 9, 2019 / 1:05 PM / a month ago

EBRD lends Bosnia $235 mln for strategic highway

SARAJEVO, May 9 (Reuters) - Bosnia signed a 210 million euro ($235 million) loan agreement on Thursday with the European Bank for Reconstruction and Development (EBRD), to be used to build a section of a strategic north-to-south highway in the country.

The 14-kilometre section will link Bosnia’s two autonomous regions, the Serb Republic and the Bosniak-Croat Federation.

The EBRD’s 15-year loan, including a three-year grace period, will be paid to the regions’ motorways companies, Bosnia’s Finance Minister Vjekoslav Bevanda said. Works are expected to be completed in 2020, he said.

The section will be part of the pan-European VC corridor linking Budapest in the north with the Croatian port of Ploce in the south.

EBRD President Suma Chakrabarti said the bank would invest 400 million euros in Bosnia this year, or double last year’s total.

$1 = 0.8937 euros Reporting by Maja Zuvela; Editing by Jan Harvey

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