EIB unlocks €340 million for Corridor Vc
By Leila Steed05 January 2021
Funds released to speed up construction of pan-European network in Bosnia and Herzegovina
The European Investment Bank (EIB) has unlocked €340 million to speed up the construction of the new Corridor Vc network. The funds will be used for a 36-km stretch of road located in Bosnia and Herzegovina between Poprikuše and Medakovo.
When complete, the 700km pan-European road network will eventually connect the port of Ploče in the south of Croatia with Hungary via Bosnia and Herzegovina.
Lilyana Pavlova, EIB Vice-President, said, “The EIB provides continuous support for the development of modern motorways on Corridor Vc in Bosnia and Herzegovina. Modern, safer roads and better transport connections are vital for economic development, fluent trade and regional cohesion and can help attract new foreign investments. This transaction will help create new job opportunities and support Bosnia and Herzegovina’s post-COVID-19 recovery and integration with the regional and EU market.”
According to the organisation, the investment will be used to finance key infrastructure in the country, creating both jobs and opportunities for businesses.
The EIB, which has already spent €1 billion on another 155-km motorway in the country as part of the infrastructure project, said Corrider Vc would improve road safety and promote regional integration and cooperation.