February 26, 2018 / 11:46 AM / in a year

EBRD to invest more than 700 million euros in Bosnia road infrastructure

FILE PHOTO - The headquarter of the European Bank for Reconstruction and Development (EBRD) is seen in London, Britain, November 22, Britain 2016. REUTERS/Stefan Wermuth

LONDON (Reuters) - The European Bank for Reconstruction and Development (EBRD) said on Monday it had signed a memorandum of understanding with Bosnia and Herzegovina and Republika Srpska to invest more than 700 million euros (614.64 million pounds) 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 Bosnia and Herzegovina, as well as Republika Srpska, the autonomous Bosnian Serb half of the 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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