Bosnia’s Finance Minister and the Director-General of the OPEC Fund for International Development signed an agreement by which the Organisation of the Petroleum Exporting Countries (OPEC) will fund a part of the construction of the 5C highway through Bosnia with about €50 million.

The loan is to be paid back within 20 years with a grace period of five years, Finance Minister and Vice-Chairman of the Council of Ministers, Vjekoslav Bevanda, said, explaining that the central Bosnian section that is to be built with this money was 17.7 kilometres long.  

After meeting with OPEC Director-General, Suleiman Jasir Al-Herbish, the Chairman of Bosnia’s Council of Ministers, Denis Zvizdic, announced the possibility of OPEC funding the Sarajevo-Gorazde motorway as well and that whether this will happen will be known for sure in September.

“This road would cut down travel time between Sarajevo and Gorazde significantly,” said Zvizdic, adding that that travel time between Gorazde and the capital would last some 45 minutes which would be a “significant contribution to Gorazde.”

Zvizdic and Al-Herbish also discussed Bosnia’s energy sector and announced that energy efficiency projects will be proposed as well.

“The funds invested into energy efficiency, most of all that of public facilities, would pay off in multiple ways,” Zvizdic said.

He also said that he discussed potential OPEC funding for other projects regarding employment of Bosnia’s youth and small businesses with Al-Herbish, most of all regarding start-up projects within the IT sector.

Al-Herbish spoke about OPEC, saying that the organisation exists for 42 years already with the goal of improving the economic and social system in the entire world and that Bosnia is one of its priorities.

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