The Council of Ministers of Bosnia and Herzegovina adopted today the Initiative of the Ministry of Finance and Treasury and appointed a delegation to conduct negotiations for the conclusion of the Loan Agreement, Investment Program for the construction, reconstruction and rehabilitation of highways in the Federation of Bosnia and Herzegovina, between Bosnia and Herzegovina and the International Bank for Reconstruction and Development (IBRD).
It is a loan worth EUR 70 million for the improvement of traffic connections and the strengthening of road network management in the Federation of Bosnia and Herzegovina.
At the proposal of the Ministry of Finance and Treasury, the Initiative was adopted and a delegation was appointed to lead negotiations for the conclusion of the Loan Agreement (Foča – Hum Road Project) between Bosnia and Herzegovina and the European Bank for Reconstruction and Development in the amount of up to EUR 60 million.
The purpose of the project is to help Bosnia and Herzegovina in the rehabilitation of existing and construction of new road sections along the cross-border road connection Foča – Hum.
The session also adopted the Initiative and appointed a delegation to lead negotiations to conclude a Loan Agreement, the Sustainable Solid Waste Management Project, between Bosnia and Herzegovina and the International Bank for Reconstruction and Development, worth 46 million euros.
The Sustainable Solid Waste Management Project is aligned with the priorities of BiH and the broader goals of the Green Agenda for the Western Balkans and follows the Federal Environmental Protection Strategy 2022 – 2032 in the processes of Bosnia and Herzegovina’s accession to the European Union.
The list of sub-projects includes the construction and rehabilitation of landfills in Goražde, Zenica, Mostar, Gradačac, Kalesija, Bosanska Krupa, Bihać, and the development of a separate waste collection system in the Sarajevo Canton.
After the negotiations are completed, the Ministry of Finance and Treasury will act in accordance with the Law on Borrowing, Debt and Guarantees of Bosnia and Herzegovina and submit individual draft financing agreements/contracts and the basis for their conclusion to the Council of Ministers of BiH, the BiH Council of Ministers announced.
