February 26, 2018 / 11:40 AM / 23 days ago

CORRECTED-EBRD to invest more than 700 mln euros in Bosnia and Herzegovina road infrastructure

(corrects to clarify that MOU was signed with Federation of Bosnia and Herzegovina)

LONDON, Feb 26 (Reuters) - The European Bank for Reconstruction and Development (EBRD) said on Monday it had signed a memorandum of understanding with the Federation of Bosnia and Herzegovina and Republika Srpska to invest more than 700 million euros into road infrastructure until 2020.

“Expanding the country’s road infrastructure and building modern motorways is a key requirement for the integration of Bosnia and Herzegovina and its economy with the region and strengthening links with western Europe,” the EBRD said in a statement.

The memorandum was signed on the sidelines of its Western Balkans Investment Summit in London with the transport ministers of the Federation of Bosnia and Herzegovina, as well as Republika Srpska, which are the two autonomous regions making up the Balkan country.

The investments cover some seven projects across the country. Since the beginning of its operations, the EBRD has invested more than 1.2 billion euros in over 146 projects in the country. (Reporting by Karin Strohecker; editing by Sujata Rao)

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