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.

Related stories

Latest news

Messi's last minute penalty saves Barcelona from shock draw

Barcelona beat Leganes 2-1 with a last minute penalty from Lionel Messi in the Spanish first division on Sunday.

At least 30 injured after explosion in Bogota

A explosion in the Macarena area of Bogota injured at least 30 people on Sunday, many of them police officers who were guarding a bull running through the streets of the Colombian capital.

Vojvodina institutions hold conference on Bunjevci's non-Croat ethnic background

There are around 16,000 members of the Bunjevci community in Vojvodina who deny their Croat ethnic background. They are represented by the Bunjevci National Council which enjoys the support of state authorities, and, since the change of government in Vojvodina, of the provincial authorities as well.

SpaceX rocket blasts off from historic launch pad en route to ISS

A commercial rocket built by SpaceX is on its way to the International Space Station (ISS) with a load of research equipment, cargo and supplies, NASA said Sunday.

Defence deals worth 1.2 billion dollars announced at key UAE show

Deals worth nearly 4.4 billion dirhams (1.2 billion dollars) were reached at a major defence show that opened Sunday in Abu Dhabi, the capital of the United Arab Emirates (UAE), an official said.

Thousands protest in Malta against controversial press law reforms

Thousands of people attended a demonstration in Malta on Sunday, answering a call by the main opposition party to protest against what it described as a threat to democracy and freedom of expression.

London's mayor calls for Trump's state visit to be cancelled

US President Donald Trump should be denied a state visit to Britain due to his "cruel and shameful" immigration policies, London Mayor Sadiq Khan said Sunday.

'Now more than ever': US scientists gird for confrontation with Trump

Normally any annual gathering of American scientists is relatively non-political. But, with Donald Trump in the White House, things are different at this year's meeting of the American Association for the Advancement of Science. Many researchers are worried about their future and are urging colleagues to protest - and remain vigilant.

Int'l conference on post-war monuments in post-communist Europe held in Zagreb

The event was organised by the Zagreb-based association SF:ius in cooperation with the Croatian chapter of the International Council on Monuments and Sites (ICOMOS).

Serbians wouldn't go to war for Kosovo - poll

A majority of citizens in Serbia wouldn't go to war to claim back Kosovo, shows a survey conducted by the Serbian nongovernmental organisation "Belgrade Centre for Security Policy".

Grabar-Kitarovic, Lavrov find solution to air pollution caused by Bosanski Brod oil refinery

Croatia and Russia have found a solution for the problem of air pollution caused by a Russian-owned oil refinery in Bosanski Brod, northern Bosnia and Herzegovina, which has been poisoning residents of Slavonski Brod, a town across the Sava River in Croatia, Croatian President Kolinda Grabar-Kitarovic said in Munich on Sunday.

Istria border police discover 20 migrants in van

During routine border control, police in the northern Croatian Adriatic region of Istria on Saturday discovered 20 migrants in a van driven by a Croatian national, the Ministry of the Interior said.