BAKU, Azerbaijan, Feb.12. The World Bank’s
Board of Executive Directors has approved a 70 million euro ($80.97
million) loan to Bosnia and Herzegovina to improve transport
connectivity and modernize road infrastructure, the bank said,
Trend
reports.
The project will be supported by an additional 8.5 million euro
($9.99 million) grant from the European Union’s Western Balkans
Investment Framework (WBIF), highlighting cooperation among
international partners.
The Federation Road Asset Management Enhancement Project will
address key gaps in the road network of the Federation of Bosnia
and Herzegovina (FBiH), one of the country’s two entities. The
program will rehabilitate or upgrade about 150 kilometers (93
miles) of priority national roads to higher safety and resilience
standards.
The project also aims to improve road safety, including upgrades
to the Mostar North junction, described as one of the country’s
most hazardous traffic locations. It will finance traffic calming
measures, improved signage and safer pedestrian crossings in around
20 school zones, as well as support the development of a Road
Safety Database.
In addition to infrastructure works, the initiative will
strengthen planning and management of the road network to improve
maintenance and the efficient use of public funds. It includes a
Contingent Emergency Response Component that would allow funds to
be reallocated quickly to the road sector in the event of an
eligible emergency.
The World Bank said upgrading priority roads, many of them key
commuter routes, is expected to enhance mobility and expand
economic opportunities across the Federation. Rural areas, where
poverty rates are higher and agriculture plays a significant role,
are seen as among the main beneficiaries through improved access to
jobs, services and trade.