The European Bank for the Reconstruction and Development (EBRD) and Bosnia signed a 12 million euro ($15.30 million)loan on Tuesday that will enable the Balkan country to take sole control its air space.
At the moment, Bosnia is paying neighbouring Serbia and Croatia to control its air space because most of its navigational, communications and meteorological equipment had been destroyed during the 1992-95 war.
Bosnia will now be able to purchase and install necessary equipment, train staff and create a new air navigation service provider that will control the air space, said Transport and Communication Minister Branko Dokic. "This means that Bosnia will be fully prepared to control its air space at the beginning of 2009," Dokic told reporters after the signing ceremony.