Skopje, 21st October 2014 (MIA) – Macedonia has received EUR 52 million under the first phase within the Project, intended for construction and reconstruction of roads in the country under the Macedonia Country Partnership Strategy with the World Bank, worth US$ 400 million.

Loan Agreement and Guarantee Agreement under the National and Regional Rehabilitation Project were signed by WB Country Manager, Tatiana Proskuryakova, Deputy Prime Minister and Minister of Finance, Zoran Stavreski, and Director of the Public Enterprise for State Roads, Ljupco Georgievski.

These funds, as they explained, will be used to finance the construction of the following roads: Boskov Most – Debar, Resen – Bukovo and Bitola – Makazi.

Within the Country Partnership Strategy, additional EUR 100 million are to be approved next year for construction and reconstruction of many roads throughout the country. Among them, as Minister of Finance said, are the following roads: Probistip – Ponikva Ski Center, Toranica – Sasa, Staro Konjarevo – Novo Konjarevo, Garski Most – Izvor and Rankovci – Kriva Palanka.

– National and Regional Rehabilitation Project, amounting to more than EUR 150 million, fits within an intensive investment cycle for construction of highways, national and regional roads in the total amount of EUR 1.3 billion, including highways, regional and local roads financed from different sources, the Finance Minister said.

Stavreski underlined that reconstruction and rehabilitation of the envisaged roads will significantly contribute to improving the competitiveness of the Macedonian economy, the flow of goods and passengers, as well as to easier transportation of goods to different parts of the country. Both the companies and the citizens will be provided better roads and road safety, since the Project includes all the detected landslides and all blacksposts on the roads.

According to Proskuryakova, this is the second project for road transportation the World Bank finances in the Republic of Macedonia, being a long-term investment.

– The Loan provides a possibility to improve the road network, which is necessary for higher growth. Improved road network will also mean better connection, safer travelling, which can, on the other hand, contribute to better access to the work place, better social services to the citizens, as well as to reduction of poverty and increase of joint prosperity, Proskuryakova said.

Director of the Public Enterprise for State Roads emphasized that by signing the Agreement, the financial scheme for reconstruction and rehabilitation of many roads in the country was finalized. The documentation therefore is being completed and the construction is expected to commence in 2015.

World Bank Loan is extended under favourable conditions: 6-year grace period and 23-year repayment period.

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