12th December 2023, Skopje – Over EUR 560 million is provided for implementation of major rail infrastructure projects. EUR 500 million is provided for the third phase of Rail Corridor 8 towards the Republic of Bulgaria and EUR 7.5 million for construction of rail joint border crossing Tabanovce. Funds therefore are extended from the European Investment Bank, the European Bank for Reconstruction and Development, the Western Balkans Investment Framework – WBIF and the IPA Program, and the Parliament adopted the respective laws yesterday. The financing was discussed at the meeting between the Minister of Finance, Fatmir Besimi, and the EBRD and EIB representatives for North Macedonia, Fatih Türkmenoğlu and Björn Gabriel.
“The Government and the Ministry of Finance are strongly committed to implementing major infrastructure projects contributing to the country’s development. To that end, we are dedicated to providing financial resources for implementation of such major infrastructure projects, which will encourage the economic growth not only during their implementation, but also in the long run considering their importance for the connectivity and the transport facilitation. Hence, sizable increase in capital expenditures was projected in the budgets in the last several years, being twice the amount this and the next year compared to 2020”, Minister Besimi said.
He acknowledged both EIB and EBRD for the funds extended for implementation of these major capital projects of crucial importance for our country, as well as the overall support these two international financial institutions provide to our country, reaching almost EUR 4 billion now.
As regards the Rail Corridor 8 Project – Phase 3, section Kriva Palanka to the Bulgarian border, EBRD and EIB have provided funds in the amount of EUR 175 million each. The Project is also co-financed by the EU through the Western Balkans Investment Framework – WBIF grant in the amount of EUR 149.2 million and IPA II grant funds in the amount of EUR 60.77 million. Under this Project, construction of the eastern part of Rail Corridor 8 to the Bulgarian border will be completed.
With respect to the Rail Joint Border Crossing Tabanovce Project, EBRD has provided EUR 5 million, coupled with WBIF grant funds in the amount of EUR 2.5 million.
EIB Finance Contract, EBRD Loan Agreements and EU Grant Agreements are to be signed in the coming period.
