Corridor Vc in RS - Part 1 (EBRD-49053)

Countries
  • Bosnia and Herzegovina
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 16, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
MOTORWAYS OF REPUBLIKA SRPSKA
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 82.45 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 70 million
Converted using 2017-11-16 exchange rate.
Loan Amount (USD)
$ 82.45 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 70 million
Converted using 2017-11-16 exchange rate.
Project Cost (USD)
$ 100.47 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 85.30 million
Converted using 2017-11-16 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 22, 2018

Disclosed by Bank Jul 31, 2017


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Project Description

According to EBRD website, the project is a provision of a sovereign-guaranteed loan of up to EUR 70 million to the Motorways of Republika Srpska in Bosnia and Herzegovina to construct two motorway interchanges at Johovac and Rudanka and a motorway section, approximately 6 km in length, between these interchanges. This motorway section is the first section of Corridor Vc to be constructed within the territory of Republika Srpska. The total length of Corridor Vc within RS is approximately 45 km.

It will improve connectivity between its main cities and between BiH and neighbouring Croatia. It will facilitate BiH's internal and regional integration by improving its key transport infrastructure. The Project will assist the Company to improve its procurement and business practices by obtaining certifications from the Chartered Institute of Procurement and Supply (CIPS) and Quality Management System ISO 9001. It will further promote inclusion through the introduction of apprenticeships and work-based learning programmes for young engineers/students to be employed during construction either as permanent employees or as interns.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project Contact: Dusan Topic
Email Address: dtopic@autoputevirs.com
Telephone No.: +38751233680, +38751233700
Website: autoputevirs.com
Office Address: Vase Pelagica 10 78000 Banja Luka Bosnia and Herzegovina

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.