At yesterday’s extraordinary session, the Council of Ministers of BiH agreed the Proposal of the Agreement on the Loan (Roads of the FBiH – Repair after floods and modernization) between BiH and the European Bank for Reconstruction and Development (EBRD).
The purpose of the project is help in the process of rehabilitation and modernization of the primary road network in the FBiH after the damage that was caused by strong floods in the spring of 2014, as well as improvement of the level of service and traffic safety on the main road network in the FBiH.
The total value of the loan amounts to 65 million EUR, with a repayment period of 15 years, including 3 years of grace period on principal repayment. For the purposes of the project, whose finalization is planned until the 31st of December 2019, it is necessary to allocate around 6 million EUR in the FBiH budget for 2016, for costs of expropriation and revolving funds for VAT.
Proposal of the Agreement on the Loan will be submitted to the Presidency of BiH on further procedure, and for BiH signatory was proposed the Minister of Finance and Treasury.
(Source: akta.ba)
