EBRD’s first investment in Macedonian rail infrastructure

The EBRD is supporting further modernisation of Macedonian transport infrastructure with a €17.6 million sovereign loan to finance renewal of track along key sections of Corridor X. This is the Bank’s first project in the railway sector in FYR Macedonia. Corridor X is the main north-south route in FYR Macedonia, providing a connection to Serbia and onwards to Europe in the north, and to Greece in the south. Modernisation of the rail network is one of the country’s priorities, given its importance for the promotion of local industry and international trade. The EBRD loan will finance the upgrade of 53 kilometres of track along three sections of Corridor X: Tabanovce to Kumanovo, Nogaevci to Negotino and Miravci to Smokvica.  The project will be implemented by the Macedonian Public Enterprise for Rail Infrastructure (PERI) and will support the country’s on-going railway reform programme, which is closely aligned to EU norms. In addition it will finance a feasibility study for the completion of rail Corridor VIII to Bulgarian border.

The EBRD investment is complemented by grants financing worth €1.2 million from the Bank’s Shareholder Special Fund, the Central European Initiative (CEI), together with funding from the governments of France and Germany. “Supporting the modernisation of transport infrastructure is one of the EBRD’s key priorities in its countries of operation. We are pleased to support FYR Macedonia’s strategy to develop the country’s railway network and to further advance rail sector reform”, said Sue Barrett, EBRD Director for Transport.

News source: EBRD link: article