The first EIB financing for sustainable mobility in the Western Balkans
€40 million for more efficient, cleaner and safer transportation in Sarajevo
The EIB has provided financing of €1.6 billion to build better roads in Bosnia and Herzegovina
To support the transition to more sustainable transport modes, the European Investment Bank (EIB) is providing €40 million for the reconstruction of the urban transport network in the Canton of Sarajevo. The financing, provided on the most favourable terms, will enable modernisation and extension of the tram and trolley bus networks by replacing existing vehicles and building new tramlines and tracks. These improvements will significantly increase safety and reduce traffic congestion and air pollution in the capital city of Bosnia and Herzegovina and the surrounding municipalities.
The establishment of a more efficient and reliable public transit system is expected to enable a shift of passengers from private to public transport modes. As a result, it will help to reduce commute times, greenhouse gas emissions, noise levels and the number of traffic accidents in the Canton of Sarajevo. The project will contribute to the fulfilment of the EU Strategy for the Western Balkans and the EIB’s climate action goals for the region relating to sustainable transport.
The EIB Vice-President responsible for the Western Balkans, Lilyana Pavlova, said:“The COVID-19 crisis imposed a new priority for us as the EU bank – to ensure that the recovery for the pandemic is green. Sustainable mobility is a key step in that direction and we are glad that we have signed the financing for this important investment for the capital of Bosnia and Herzegovina. The project will contribute to the fulfilment of the EU Strategy for the Western Balkans and to the development of cleaner, modern and efficient transportation infrastructure across the region, for the benefit of its people and the environment alike.”
The Minister of Finance and Treasury of BiH, Vjekoslav Bevanda, stated that yet another important contract has been signed for the project aimed at improving the quality of life for citizens in the Canton of Sarajevo and contributing to environmental protection. “It is very well known that Sarajevo suffers from many problems with urban transport and traffic jams, but also with air pollution, which is the result of all these issues. This is one among very few projects that will help in overcoming these difficulties. Therefore, we are grateful to the representatives of the EIB for supporting such a high-quality and important project for the people of Sarajevo, but also for all those who come to visit the city”, said Minister Bevanda.
The Head of the EU Delegation and EU Special Representative in BiH, Ambassador Johann Sattler, said: “Urban mobility and sustainable, green public transportation are high on the agenda of the European Union. This project will support a shift to more environmentally-friendly public transportation and provide citizens with more affordable, accessible, healthier and cleaner alternatives in Sarajevo. As such, it is also contributing to the collective effort to reduce air pollution, a major threat to climate and citizens’ health.”
To date, the EIB has invested €1.6 billion in the modernisation of transport infrastructure in Bosnia and Herzegovina, contributing to better connectivity of the country with the region and the European Union. The majority of these funds were allocated to Corridor Vc, which is one of the most important regional investments for the EIB.
The European Investment Bank (EIB) is providing €30 million to support the research, development and innovation activities of MERMEC Group, an Italian multinational headquartered in Monopoli and a world leader in the design and development of integrated diagnostics, signalling, and railway, metro and tram infrastructure maintenance solutions. The agreement was signed by EIB Vice-President Gelsomina Vigliotti and MERMEC Group Chief Financial Officer Michele Costa on the side-lines of an event in Matera organised by the EIB and Confindustria Puglia e Basilicata to promote EU bank financing opportunities for businesses in the Puglia and Basilicata regions.
EIB President Werner Hoyer has been participating in UNGA this week alongside senior representatives of the EU Bank, which is owned by the 27 members of the European Union. President Hoyer was joining global leaders to address the climate emergency and ways to accelerate the 2030 Global Agenda for Sustainable Development through innovative investment.
The Board of Directors of the European Investment Bank (EIB) today approved € 6.3 billion of new financing to support new business investment, transport, climate action, education and health, and regional development Europe and around the world.