OFID boosts transport infrastructure in Bosnia and Herzegovina

Sun 09-09-2018 14:00 PM

VIENNA, 9th September, 2018 (WAM) — The OPEC Fund for International Development, OFID, has signed agreements to support a major transport infrastructure project in Bosnia and Herzegovina, BiH.

OFID Director-General Suleiman J Al-Herbish signed two loan agreements for a total of US$55.5 million with BiH Minister of Finance and Treasury Vjekoslav Bevanda in support of the country’s ‘Corridor Vc Motorway Project, Section Nemila Donja Gracanica’ (Zenica North). A related project agreement was also signed with the President of the Federation of BiH Marinko Cavara.

OFID’s delegation attended a high-level meeting hosted by BiH Chairman of the Council of Ministers Denis Zvizdic, alongside BiH Prime Minister of the Federation Fadil Novalic and other ministers and senior government figures.

Al-Herbish also addressed a press conference alongside Zvizdic and Ismir Jusko, BiH Minister of Communications and Transport. OFID’s Director-General praised the excellent cooperation between OFID and BiH and underlined his organisation’s support of the government’s development strategy, which prioritises transportation. Al-Herbish noted that these new agreements represent OFID’s third investment into the project.

The Vc Road Corridor is part of the Trans-European road corridors network and connects Budapest, Hungary, in the north, with the Adriatic port of Ploce, Croatia, in the south. Complex physical and geographical characteristics of the route present significant engineering challenges and require the construction of 180 bridges and 80 tunnels, and an investment worth US$5 billion.

[Image credit: OPEC Fund for International Development, OFID]

WAM/Rola Alghoul/Esraa Ismail

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