Bosnia's Finance and Treasury Minister Vjekoslav Bevanda signed on Tuesday 68 million Euro-worth contracts with the European Investment Bank's (EIB) representatives, which will finance three major projects in the country

Of the total amount, 19 million Euro will be utilised for the construction of the highway section near the central city Zenica, and the funds were secured by the European Union (EU).

The minister said this was a 2.8-kilometre long section on the Corridor VC and includes a 2.4 kilometre-long tunnel.

Another important step in ?? assistance to #BiH within #ConnectivityAgenda – €19 million in EU grants to build Zenica Tunnel, one of the most challenging subsections of #Corridor Vc, signed today. Works have already started! pic.twitter.com/aRaTkThSmo

— EU in Bosnia and Herzegovina (@eubih) December 17, 2019

“We also signed today a loan agreement on financing the water supply and sewage project in Republika Srpska (one of Bosnia's two semi-autonomous regions) worth 30 million Euro, which should be implemented in the period 2020-2024, and the loan pay-off period is 25 years with a six-year grace period,” said Bevanda.

The third project refers to the flood protection measures in Republika Srpska and the EIB secured 19 million Euro for that purpose.

“These contracts are of exceptional importance for the development of Bosnia and Herzegovina, and I thank once again the representatives of the EU and EIB, while I wish the users to finish the works within the set deadlines,” he added.

Mateo Ravelling, EIB's Head of Division, Lending Operations. Western Balkans, Slovenia and Croatia, pointed out that the total contribution of the EIB in Bosnia has now risen to 2.7 billion Euro.

“I thank Minister Bevanda and all other actors who took part in this process and enabled the signing of this contract today,” he added.

The contract signing ceremony was attended by Head of the EU Delegation in Bosnia Johann Sattler, who said the Union supports the highway construction and that this will improve the safety in traffic, reduce pollution and open new jobs.

“European Union stands with the citizens of Bosnia and Herzegovina, and we work to improve the standards and overall lives of all citizens,” he said.