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Photograph: Photo by haljackey, used under CC BY-SA

The European Bank for Reconstruction and Development (EBRD) has approved an 80 million euro loan for the continuation of construction work on the part of the Ploce-Budapest motorway that passes through Bosnia and Herzegovina and the loan contract was signed on Tuesday by the head of the EBRD office in Bosnia, Ian Brown, and Finance Minister Vjekoslav Bevanda.

The loan will be used to finance work on eleven kilometres of the motorway along very difficult sections. One section will pass south of Mostar and connect to an already built section running from Medjugorje to the border with Croatia.

The second leg involves a by-pass around Zenica and both legs should be completed during 2019. "These are very important sections of the 5C Corridor," Bevanda said, adding that this was a key road in connecting to the European road network.

The loan will be repaid over a period of fifteen years with a four year grace period. Authorities in Bosnia and Herzegovina will invest an additional 16.2 million euro to expropriate land along the route and to oversee the construction.

Brown said that since 2008 the bank had signed loan contracts with Bosnia and Herzegovina for the construction of the 5C corridor for more than 315 million euro in all.

Around 330 kilometres of the corridor 5C pass through Bosnia and Herzegovina and to date 120 kilometres of motorway sections have been built.

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