Board of Executive Directors of the World Bank approved a loan from the International Bank for Reconstruction and Development (IBRD) in the amount of 58 million EUR (64.6 million USD) for the Project of modernization of road sector of the FBiH.
This project, which will be co-financed by the European Investment Bank and the World Bank, represents the first operation of the World Bank in the transportation sector in BiH since 2007, which is reflecting a renewed focus on connection and strengthening of key economic infrastructure as the country is moving towards joining the European Union.
“With recent systematic diagnosis of the country was determined that investments in transport infrastructure is crucial for growth and inclusion of BiH,” said Tatiana Proskuryakova, head the World Bank’s Office in BiH.
She added that high-quality, safe and efficient road network would allow greater access to the market to exporters from our country, and encourage greater labor mobility and easier access to goods, services, employment and business opportunities.
This project is intended to improve road connectivity and safety for road users on selected roads, and to strengthen capacity for sustainable management of the main road network in the FBiH. A total of 178 km of main roads will be repaired, including three tunnels and nine bridges. Moreover, construction of a new direction M17.3 (road Neum-Stolac) should boost growth in the southern parts of the country through improved access to the Adriatic coast, which will strengthen tourism and create new work places.
Besides infrastructure works, the mentioned project will support the PE Roads of FBiH in their efforts to improve the financial viability of these and future investments, and that they will take into account the resistance to climate change and road safety during the project design and construction of roads in an efficient manner and provide a better understanding of the potential sensitivity of the road network in the extreme weather and climate changes.
This project is the first phase of modernization of transport sector of BiH and it will be implemented in the FBiH. With this program, which is organized as a series of projects, will be supported the long-term transport development in BiH in a flexible way and by allowing the development of subsequent phases in other parts of the country as technical and financial opportunities open along the way, as stated from the World Bank.
(Source: faktor.ba)
