Bosnia and Herzegovina: EIB supports urban regeneration and higher education

On May 25 the European Investment Bank (EIB) signed a cooperation agreement with the Canton of Sarajevo and the University of Sarajevo to support the development of a master plan for the main campus in the city centre. The €500 000 grant is being provided under the Urban Projects Finance Initiative (UPFI) in partnership with the French Development Bank AFD and financed by the EIB’s Economic Resilience Initiative (ERI).

It will enable the preparation of a master plan and feasibility study for the integration of different educational and scientific research units of the University of Sarajevo into one consolidated campus.

The strategy to be developed under the ERI technical assistance will consist of the redevelopment of the former army barracks in the centre of Sarajevo along with the construction of faculties, institutes, other facilities and the accompanying infrastructure, resulting in the creation of a high-quality campus area. It will ensure improved facilities for students and academic staff, as well as effective collaboration between faculties, academies and research institutes.

“Along with the European Union, the EIB is pleased to be supporting this allocation of the budget for the preparation of a future project that is essential for enhancing educational opportunities for people in Bosnia and Herzegovina. We hope this investment will enable the University of Sarajevo, as the largest and oldest institution of tertiary learning in Bosnia and Herzegovina, to have an even greater impact on the country’s development by educating generations of students in new integrated and well-equipped education facilities,” said EIB Vice-President Lilyana Pavlova, who is responsible for operations in Bosnia and Herzegovina.

“Through the EIB’s Economic Resilience Initiative, we support high-impact projects that encourage growth, employment and increased resilience, and this project will enhance the quality and effectiveness of educational processes and the educational experience, even during emergencies such as the COVID-19 pandemic,” she added.

“We are finally starting with one of the largest development projects in Sarajevo. After over two decades, the vision of a modern campus as the centre of education and progress is becoming a reality. This project is beyond all political and individual interests. Our society needs to have a foundation of knowledge and without solid, well-planned and bold investments, this vision would not be possible. In the name of everyone who dreamt this dream, we are jointly advancing with the fulfilment of our obligation to future generations,” said Prime Minister of Sarajevo Canton Edin Forto.

“I congratulate the Canton of Sarajevo, University of Sarajevo and the EIB on this initiative. It has great potential to provide inspiration and hope for the future and should help motivate the best and the brightest to stay in or return to BiH and become drivers of change. Education is a strategic investment in the future. This is why we attach great importance to supporting young people by investing in their education and skills. Currently, in addition to initiatives such as the one announced today, the EU is also assisting the BiH authorities to better align education and training systems with the needs of the labour market with a project worth €2.6 million,” said Head of the EU Delegation and EU Special Representative in BiH Ambassador Johann Sattler.

The entire future project cost is estimated in the range of €120 million to €160 million. Apart from education facilities, it will cover the accompanying infrastructure, such as roads, car parks and garages, and public greenery. Particular attention will be paid to the energy efficiency of the buildings and to management arrangements, including the training of management and maintenance staff during the project implementation. This is the third grant signed by the EIB in 2021 for Bosnia and Herzegovina, bringing the total to €2.6 million.