SARAJEVO, Bosnia (May 26,2008) - Bosnia signed the financial agreement with the World Bank, for the road infrastructure and safety project in the amount of 25 million US Dollars.The loan will be used for improvement of the road network in Bosnia and improvement of institutional capacities concerning road safety.
This is the first loan approved by the World Bank within a four year strategy of partnership with Bosnia under IDA conditions – payment deadline is 20 years, with grace period of 10 years servicing expenses of 0.75 annually.
Assets will be used to finance reconstruction of 240 kilometers of regional and main roads in Bosnia and there will also be a strategy for improvement of road safety in the country.
The world Bank financing is a part of a wider program of roads reconstruction in Bosnia, finaced also by the Bosnian government ,the European Investment Bank and the European Bank for Reconstruction and Development (EBRD).
This project is a response to the demands of the Bosnian authorities to improve safety of the main road infrastructure, stated the Bosnian Ministry of Finance and Treasury.
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Monday, May 26, 2008
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