News in English     | 25.09.2019. 14:03 |

Ratifying financial agreements for continuation of construction in BiH

FENA Hana Imamović

SARAJEVO, September 25 (FENA) - The European Bank for Reconstruction and Development (EBRD) is BiH's most important international financial institution in terms of economic goals, infrastructure development and other important projects for economic recovery and development.

This was emphasized today after the meeting of the BiH Council of Ministers Chairman Denis Zvizdić with the newly appointed Head of the EBRD Office in BiH, Manuele Naessl, and was attended by EBRD Regional Director for the Western Balkans Suzana Hargitai.

Zvizdić recalled that in May, a meeting of the EBRD Board of Governors in Sarajevo signed 20 different projects, including one concerning the construction of the Doboj bypass on the Pan-European Highway, the V-c corridor, worth 210 million euros.

He expressed his gratitude to the EBRD, which has so far invested 2.5 billion euros in 160 projects, of which 73 are currently active, not only in transport infrastructure but also in energy efficiency and SME development and green projects economy.

“More than 800 million euros has been provided by the EBRD for the construction of the V-c corridor, which are the most important assets on which all plans for the construction of that most important transport corridor for BiH are based,” Zvizdić added.

In the continuation of the cooperation, it was announced that work will be done to strengthen the business environment, create the preconditions for investing in infrastructure, strengthen the private sector and projects in the renewable energy and energy efficiency sectors, as well as the green economy.

Zvizdić reiterated once again the importance of urgent ratification of financial agreements currently pending ratification by the BiH Parliamentary Assembly, these are agreements worth more than one billion euros in assets not only from the EBRD but also from other financial institutions.

This appropriation is intended to build transport and utility infrastructure, to develop agriculture, to strengthen the environmental and renewable energy sectors, and ultimately to create new, much needed jobs.

EBRD Regional Director for the Western Balkans Suzana Hargitai reminded that BiH citizens pay excise taxes on fuel and that money is intended to build the V-c corridor, which is why it is intended to see how to jointly shape this perhaps largest project in BiH.

She noted that some sections were already built, but the goal is to bring them together as soon as possible so that it can be seen as soon as it is a corridor, and that it is not just certain sections of the corridor.

The intention, she added, is to try in the future to see ways to involve the private sector in BiH's development. Hargitai also raised the issue of investment in the renewable energy sector, as there are very few projects in BiH that are implemented in the renewable energy sector that need to be changed.

“One of the potential areas where we can build cooperation is tourism. BiH has tourism potential, it just needs to be harnessed, a handbook for the Western Balkans will be produced by November on how to use tourism to improve the economic situation and create new jobs,” Hargitai said.

The newly appointed Head of the EBRD's Office in BiH, Manuele Naessl, stressed that investment in infrastructure will continue to be important for the EBRD, as well as work on improving utilities, and will encourage work on green city projects already underway in some BiH cities.

(FENA) L. N.

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