Corridor Vc Receive Additional EU Grants
The European Union is stepping up its support for Corridor Vc, the key transport infrastructure project in Bosnia and Herzegovina, with additional grant funding of EUR 14.6 million. The funds will be used to finance the supervision of works contracts on five motorway sections that are financed with loans provided by the European Bank for Reconstruction and Development the grant funding will reimburse the supervision costs incurred by two motorway companies to date.
Corridor Vc is a pan-European transport project reconnecting the continent. The section in Bosnia and Herzegovina is 325 kilometres long and will cross the country from north to south, eventually connecting the Adriatic port of Ploče in Croatia with the Hungarian capital, Budapest.
The motorway, which will bring Bosnia and Herzegovina closer to the EU, is co-financed by loans from the EBRD and European Investment Bank (EIB) and grant resources form the EU. To date, the EBRD has provided loans worth €850 million from its own resources, while the investments and technical assistance grants extended by the EU have totalled over €220 million.