Bosnia and Herzegovina's Council of Ministers on Thursday approved the opening of negotiations with the European Bank for Reconstruction and Development on a €350 million loan to build of a 35-km-long motorway section on the Pan-European Corridor Vc.

The Council said a delegation was appointed to conduct the negotiations and sign a loan agreement for the section between Mostar and Konjic.

The loan would be repaid over 15 years, with three years’ grace.

The works will also be financed by the European Investment Bank.

BiH has built 120 km of motorway on Corridor Vc of the 320 km running through BiH. The corridor connects Hungary, Croatia and BiH, going from Budapest via Osijek and Sarajevo to Ploce.