18th May 2022, Skopje – More than EUR 200 million is provided from EBRD under favourable terms and conditions for implementation of the Regional Solid Waste Project and construction of Skopje – Blace motorway section. Draft laws for the respective funds from this international financial institution, proposed by the Ministry of Finance, were adopted at yesterday’s Government session. Following their adoption by the Parliament of North Macedonia, the agreements pertaining to EBRD projects will be signed by the Ministry of Finance and the Ministry of Environment and Physical Planning, as well as the Public Enterprise for State Roads.
Draft Law on Guarantee by the Republic of North Macedonia of Liabilities under the Loan Agreement for Financing TEN-T Skopje-Kosovo Border Motorway Project envisages EUR 167.6 million from EBRD, with 16-year repayment period, 4-year grace period, and 6-month EURIBOR variable interest rate increased by 1% margin.
Thus, financial structure as regards the Project implementation is closed. In addition to EBRD funds, EUR 26.5 million is provided as WBIF grant funds.
Project objective is to upgrade the road infrastructure in the country, i.e. it envisages construction of the second sub-section running from Blace to Skopje, thus significantly improving mobility and trade, as well as road safety, shortening the travel time, enhancing the possibilities for socio-economic development at both national and regional level.
Draft Law on Borrowing a Loan by the Republic of North Macedonia from the European Bank for Reconstruction and Development under the Loan Agreement for Financing the Regional Solid Waste Project prescribes for EUR 55 million, with 15-year repayment period, 4-year grace period and 6-month EURIBOR variable interest rate increased by 1% margin.
The objective is to help the country develop regional waste management systems in certain regions, i.e. establishing a regional waste management system in Southeast, Vardar, Pelagonija, Southwest and Polog regions.
Ministry of Finance and the Government remain committed to implementing infrastructure projects aimed at both improving the living conditions of the citizens and having positive effects on the economy. Providing the funds for implementation of the respective Projects under favourable terms and conditions in times of crisis is of exceptional importance.
EBRD is major investor in the Republic of North Macedonia. With EBRD’s support, investments have been made in the rail sector and road infrastructure, energy infrastructure, public transport, wastewater treatment plants, also committing funds to supporting the private sector, in particular boosting the competitiveness of SMEs, energy efficiency and renewable energy sources.
In the past 30 years, EBRD has invested more than EUR 2.2 billion in 159 projects across the country.
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