European Investment Bank (EIB) lends €140 million for construction of 12.4 km section of highway along pan-European corridor Vc, including four viaducts, two twin-tube tunnels, three bridges and an operation and traffic control centre
The European Union will complement the financing with a grant worth more than €64 million
Pan-European Corridor Vc connects Budapest with port of Ploče at the Adriatic Sea
The European Investment Bank (EIB) and the European Union will support Bosnia and Herzegovina (BiH) with a €204 million support package to develop a modern highway network along the Bosnian section of the pan-European Corridor Vc, a key road connection between Hungary, Eastern Croatia and the port of Ploče at the Adriatic Sea.
The European support package includes a €140 million investment from the EIB and a grant worth more than €64 million from the European Union for the construction of a 12.4 km highway infrastructure with four viaducts, two twin-tube tunnels, three bridges, one railway overpass, one road interchange, and an operation and traffic control centre. This will extend the existing highway network along the Corridor Vc with two new road sections, Tarčin-Ivan, located in the Canton of Sarajevo, and Poprikuše-Nemila in the Canton of Zenica-Doboj.
The investment increases road safety in Bosnia and Herzegovina and contributes towards faster economic and social development of the country by creating a quicker, safer and more reliable long-distance transport link with Croatia, one of the country`s key export markets. The Corridor Vc is part of the extended TEN-T Mediterranean core road network and the South East Europe Transport Observatory (SEETO), with 335 km of the 702 km-long road network located in Bosnia and Herzegovina.
Bosnia and Herzegovina’s Finance Minister Vjekoslav Bevanda and the EIB’s Head of Division for Lending Operations in Croatia, Slovenia and the Western Balkans Matteo Rivellini signed the finance agreement today in Sarajevo with the Head of the EU Delegation and EU Special Representative in BiH, Ambassador Johann Sattler attending the ceremony.
EIB Vice-President Dario Scannapieco said: “The EIB is particularly proud of our continuing commitment to the economic and social development of Bosnia and Herzegovina and the Western Balkans. This time, the EIB and the EU have blended their funds to create a €204 million financing package to help Bosnia and Herzegovina develop a modern highway network and enable easier and faster movement of people, goods and services along the key pan-European Corridor Vc. This investment will have a positive economic impact beyond Bosnia and Herzegovina, and will benefit citizens and businesses in Croatia, Hungary and the Western Balkans.”
Ambassador Johann Sattler, Head of the EU Delegation and EU Special Representative in BiH, said: “The EIB investment complements the joint efforts by the EU, the EBRD and Bosnia and Herzegovina to complete the Corridor Vc motorway. I am pleased that Bosnia and Herzegovina has secured financing for additional sections of Corridor Vc because modern transport links are key for growth and the economic development of any country aspiring to join the European Union. Recognising these benefits for its citizens, the European Union will provide over €200 million in grant funding to speed up the construction of 13 major connectivity projects in Bosnia and Herzegovina.”
Bosnia and Herzegovina’s Finance Minister Vjekoslav Bevanda said: “There is no need to emphasise the importance of each kilometre on the Corridor Vc motorway or how complicated these activities are. Therefore, we are grateful to the European Investment Bank for their recognition of projects of such importance. I hope the deadlines will be observed and that we will soon see new construction sites and new motorway kilometres in BiH.”
To date, the EIB has invested €1.2 billion in transport projects in Bosnia and Herzegovina, bringing total investment across the country to more than €2.6 billion delivered in 72 different projects.
EIB Global, the financial arm of the European Investment Bank (EIB) for activities outside the European Union, has signed a cooperation agreement with the National Bank of North Macedonia under the Greening Financial Systems (GFS) programme. The agreement will enable the provision of advisory services to the National Bank designed to enhance its regulatory and supervisory climate risk management practices, as well as the reporting capacities of the financial sector in the country. These activities will help local banks understand the climate risk exposure of companies in North Macedonia and support their sustainability practices.
EIB Global, the financial arm of the European Investment Bank (EIB) for activities outside the European Union, has signed a €36 million loan for the construction of a 50 MW wind farm on the high plateau of Vlašić mountain, located about 15 km north-west of the town of Travnik. The loan comes in addition to the €21 million in grants allocated by the European Union in December 2023 through the Western Balkans Investment Fund (WBIF).
The development arm of the European Investment Bank (EIB) — EIB Global — has held a press conference to confirm its ongoing commitment to Tunisia. €92 million of new financing was granted in 2023, and there was an almost 50% increase in disbursements to projects promoting sustainable, resilient and inclusive economic growth to benefit all Tunisians. The EU bank is also providing technical expertise and sector support — including via EU support funds — in the water and wastewater, transport and electrical grid sectors.