20th December 2023, Skopje – The Ministry of Finance provided EUR 560 million for the completion of the last section along Railway Corridor VIII towards Bulgaria. The funds were extended by the European Investment Bank, the European Bank for Reconstruction and Development and the EU WBIF grant and IPA.
“Financing of the Railway Corridor VIII Project towards Bulgaria has thus come to a close, with the European Investment Bank and the European Bank for Reconstruction and Development extending EUR 175 million each, coupled with EU WBIF grant in the amount of EUR 149 million and IPA grant in the amount of EUR 60.77 million. Such substantial financial support has provided for implementation and completion of this decade-long project”, Minister Besimi said at the signing ceremony of the EIB Finance Contract and EBRD Loan Agreement in Skopje.
As he noted, completion of the last section of the Project will result in an improved railway infrastructure, better working conditions for companies, facilitated transport of goods and passengers, and development boost for the Republic of North Macedonia.
This Project is part of the announced investment cycle to be implemented by the public sector in the upcoming period, while also being a driving force of the economic growth. Funds amounting to EUR 733 million are projected in next year’s Budget for that particular investment cycle.
EIB Finance Contract and EBRD Loan Agreement were signed upon the adoption of the laws by the Parliament.