- Media Center
- Press releases
- OFID boosts transport infrastructure in Bosnia and Herzegovina
OFID boosts transport infrastructure in Bosnia and Herzegovina
OFID Director-General Al-Herbish (left) at press conference alongside Denis Zvizdic, BiH Chairman of Council of Ministers.
Vienna, Austria, September 6, 2018. OFID – the OPEC Fund for International Development – has signed agreements to support a major transport infrastructure project in Bosnia and Herzegovina (BiH).
OFID Director-General Suleiman J Al-Herbish signed two loan agreements for a total of US$55.5 million with BiH Minister of Finance and Treasury Vjekoslav Bevanda in support of the country’s ‘Corridor Vc Motorway Project, Section Nemila Donja Gracanica’ (Zenica North). A related project agreement was also signed with the President of the Federation of BiH, Marinko Čavara.
OFID’s delegation attended a high-level meeting hosted by BiH Chairman of the Council of Ministers Denis Zvizdić, alongside BiH Prime Minister of the Federation Fadil Novalić and other ministers and senior government figures.
OFID’s Al-Herbish also addressed a press conference alongside Zvizdić and Ismir Jusko, BiH Minister of Communications and Transport. OFID’s Director-General praised the excellent cooperation between OFID and BiH and underlined his organization’s support of the government’s development strategy, which prioritizes transportation. Al-Herbish noted that these new agreements represent OFID’s third investment into the project.
The Vc Road Corridor is part of the Trans-European road corridors network and connects Budapest, Hungary, in the north, with the Adriatic port of Ploče, Croatia, in the south. Complex physical and geographical characteristics of the route present significant engineering challenges and require the construction of 180 bridges and 80 tunnels, and an investment worth US$5 billion.
OFID’s delegation visited two ongoing operations during the high-level mission: to subsection Klopje-Donja Gracanica, part of the Corridor Vc Motorway Project; and to the Rural Business Development Project in Foča and Goražde (an ongoing OFID operation co-financed by IFAD – the International Fund for Agricultural Development). OFID’s Director General was honored by a certificate in appreciation of OFID’s support of the Bosnia Podrinje Canton, and he cut the ribbon to open the ‘Rural road Biserna – Vran Potok’. Attending the ceremony was Emir Okovic, Prime Minister of Bosnia Podrinje Canton, Muhamed Ramović, Mayor of Goražde, Zijad Kunovac, Mayor of the Municipality of Foča, and the beneficiary community.