Forto: World Bank Support is Crucial for Modernisation of Railways and Reconstruction of Sarajevo - Podgorica Road

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Modernisation of the existing and the construction of new railways as well as the reconstruction of the Sarajevo – Podgorica Road via Šćepan Polje are the two priority projects of our country in which implementation the World Bank has shown a great interest to participate.

This has been confirmed at today’s meeting between the delegation of Bosnia and Herzegovina, headed by the Minister of Communications and Transport, Edin Forto, with the Executive Director at World Bank Group, Koen Davidse, and Vice President of the Europe and Central Asia Region at the World Bank, Antonella Bassani.

Deputy Minister of Finances and Treasury of Bosnia and Herzegovina, Muhamed Hasanović, also attended the meeting that was held in Marrakech within the framework of the World Bank-International Monetary Fund Annual Meeting, in which Minister Forto takes part in the capacity of Deputy Governor of BiH in the World Bank.

Minister Forto stressed the importance of the support by the World Bank and its Groups in the implementation of large infrastructure projects that is reflected in significant grant amounts which, together with the EU funds, reach up to 40% of project value.

It was jointly concluded that the project approval procedures must be accelerated in Bosnia and Herzegovina in order to avoid paying penalties for non-withdrawal of approved funds, and Minister Forto commended the proactive and dedicated commitment of the World Bank management in Sarajevo.

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