News in English     | 25.06.2020. 14:12 |

Loan agreement signed on Sarajevo City Roads Project

FENA Press release

SARAJEVO, June 26 (FENA) - Deputy Chairman of the Council of Ministers and Minister of Finance and Treasury Vjekoslav Bevanda signed today a loan agreement with the Head of the EBRD Office in BiH Manuela Naessl for the Sarajevo City Roads Project.

The contract was signed correspondently, without the usual ceremonies, due to measures taken to prevent the Covid -19 virus.

The purpose of the project is to improve the key road network in the Sarajevo Canton, by financing the construction and upgrading of road infrastructure on sections of the First Transversal (Kobilja glava two-pipe tunnel) and the Ninth Transversal to connect the city of Sarajevo with other parts of the county and the regional road network. The project also aims to reduce current congestion and improve traffic mobility in the region.

The loan amount is EUR 30 million, the loan repayment period is 15 years including a 3 year grace period. The project is expected to be completed by the end of 2022.

Minister Bevanda thanked Director Naessl and pointed out that he was happy to provide assistance to Bosnia and Herzegovina in all important projects that contribute to the quality of life of the citizens of Bosnia and Herzegovina, the Ministry of Finance and Treasury of BiH said.

(FENA) L. N.

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