(PRESS RELEASE) LUXEMBOURG, 3-Sep-2024— /EuropaWire/ — Marking a significant milestone, the European Investment Bank (EIB) celebrates five years of its impactful presence in Bosnia and Herzegovina (BiH). Since the establishment of its Sarajevo office in 2019, the EIB has played a pivotal role in driving the country’s sustainable development and progress towards European Union accession, providing over €900 million in financing for critical infrastructure and development projects.
Operating under the Team Europe initiative, the EIB has forged strong partnerships with the EU Delegation in BiH and other EU institutions, ensuring that BiH has access to both financial and technical support. The investments have primarily focused on enhancing the country’s connectivity, supporting climate action, and bolstering economic resilience.
A substantial portion of the EIB’s investments—approximately €590 million—has been directed towards the transportation sector, including significant contributions to the development of Corridor Vc, a key transportation route that will significantly improve travel efficiency and road safety in the region. The EIB’s commitment to sustainable infrastructure is further evidenced by its €36 million investment in the Vlašić wind farm and a €75 million loan for the modernization of healthcare facilities at the University Clinical Centre of Banja Luka.
In addition to direct financing, the EIB has delivered extensive technical assistance through grants and advisory services. The Bank has allocated €3 million from its Economic Resilience Initiative and provided €10.5 million in advisory services through the Western Balkans Investment Framework (WBIF), supporting the preparation and implementation of essential projects across various sectors, including water, energy, healthcare, and education.
The EIB’s strategic investments have also been complemented by EU grants, such as the €40 million in investment grants under the Water and Sanitation (WATSAN) programme, which have facilitated improvements in water supply and sanitation services across the country. These efforts are part of a broader EU initiative, including the Economic and Investment Plan and the Growth Plan, aimed at accelerating BiH’s green transition and improving living standards.
As the EIB looks to the future, it remains committed to continuing its support for Bosnia and Herzegovina. The recent appointment of Miha Švent as the new EIB representative for BiH signals the Bank’s ongoing dedication to fostering sustainable development in the region.
Reflecting on the past five years, EIB Vice-President Robert de Groot stated, “Our work in Bosnia and Herzegovina has not only transformed infrastructure and public services but has also opened new avenues for economic growth and social development. We are proud of the tangible improvements we’ve helped achieve and look forward to continuing our partnership with BiH on its path towards the European Union.”
As the EIB moves into its next phase of operations in BiH, it will continue to build on its successes, ensuring that its investments deliver long-term benefits for the people of Bosnia and Herzegovina, driving the nation closer to its European aspirations.
About the EIB and EIB Global
The EIB is the long-term financing institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB supports projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of the Global Gateway. We aim to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to local people, companies and institutions through our offices around the world.
About the EIB in the Western Balkans
The EIB is one of the leading international financiers in the Western Balkans. Since 2009, the Bank has financed projects in the region totalling over €11 billion.
About EIB in BiH
The EU bank has been active in BiH since 1977. To date, it has invested €3.4 billion, mostly in support of the transportation sector and small and medium businesses.
SOURCE: European Investment Bank
