60 MILLION EUROS FOR THE FOČA-HUM ROAD

SARAJEVO, JULY 22 /SRNA/ - The draft loan agreement for the Foča–Hum road project between BiH and the European Bank for Reconstruction and Development /EBRD/, worth 60 million euros, was signed today in Sarajevo by Srđan Amidžić, Minister of Finance in the Council of Ministers of BiH, and Stela Melnik, EBRD Director for BiH.

The project includes the rehabilitation of existing sections and the construction of new sections of the road on an international route linking to Montenegro.

Amidžić pointed out that this was an extremely challenging section, 13.26 kilometres long, featuring 13 viaducts and bridges, 11 kilometres of retaining walls and two kilometres of piles.

"This is one of the most challenging projects that we will carry out in Republika Srpska together with our international partners, the World Bank and the EBRD," Amidžić said.

He stressed that this project confirms the international credibility of Republika Srpska and that the entire financing package, worth a total of 99.4 million euros, has now been secured, as the 39.4 million euros provided by the World Bank was secured in June 2023.

"All prerequisites have now been met to proceed with the process of issuing a public call for the selection of a contractor. This is no longer a matter of procedures; this is a matter of reality, and ultimately of directly connecting this part of Republika Srpska with Montenegro," Amidžić said.

He added that the public company Roads of Republika Srpska has already begun the procedure with the World Bank and that they are launching the process of issuing a public call in order to select a contractor and bring them onto the construction site.

"We are pleased that this project has once again confirmed the credibility of Republika Srpska in the eyes of international financial institutions, while at the same time significantly improving road connectivity and opening up new prospects for this part of Srpska," Amidžić concluded.

Expressing satisfaction with the signing of the loan agreement to finance the construction of the Foča–Hum road, Melnik said that this was a project that had been in preparation for a long time.

She said that the 60 million euros loan would be disbursed in two tranches, the first of which amounts to 48 million euros.

"I believe this is a very important project for BiH and its connection with Montenegro," Melnik stressed.

The 60 million euros loan is intended to finance the construction of the Donji Kopilovi-Hum section /the border bridge over the Tara River/ and consulting services for project implementation.

The project will be implemented by the public company Roads of Republika Srpska, and works are planned to be completed by the end of 2029.