The European Bank for Reconstruction and Development (EBRD) said on February 26 it has signed a memorandum of understanding with Bosnia & Herzegovina’s two autonomous entities – the Muslim-Croat Federation and Republika Srpska – to invest more than €700mn in the country’s road infrastructure by 2020.
The poor former Yugoslav country needs significant investment in infrastructure to get closer towards membership in the European Union.
“Expanding the country’s road infrastructure and building modern motorways is a key requirement for the integration of Bosnia and Herzegovina and its economy with the region and strengthening links with western Europe. Improving connectivity is of critical importance for the Western Balkans economic convergence,” the EBRD said in a statement.
The sum will be invested in seven projects across the country, all related to the construction of EU-defined Corridor Vc, which runs from the Hungarian capital Budapest through Croatia and Bosnia and ends again in Croatia, at the Adriatic town and major seaport of Ploce. The length of the Bosnian part of the corridor is 330km.
Since the beginning of its operations, the EBRD has invested more than €1.2bn in over 146 projects in the country.
The memorandum was signed during the EBRD’s Western Balkans Investment Summit in London.
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