engleski

Financial Challenges of Corridor Vc Motorway Construction in BiH

The road transport in Bosnia and Herzegovina (BiH) is frequently blamed for the poor international competitiveness of the country, and asks for its rehabilitation and extension. Not strangely, certain authorities in BiH have put the focus on the development of the Corridor 5c Motorway. Given the scale of the Project and financial constraints (proceeding from national legal rules imposed on public sector’ s borrowing and international prudential rules on transport infrastructure financing) it is practically impossible for the respective authorities to mobilise public resources. On the other hand, mobilising private sources asks for improvement of the institutional capacity to handle public-private partnerships. The purpose of the paper is to contribute to getting a realistic picture of how the Project could be implemented by combining the local “ soft measure” (the legal and regulatory reforms) and international “ hard measure” (project financing on sectional basis).

motorway; financing; fiscal space; BOT

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