Zagreb 14th May 2010 (MIA) – Macedonia is expected to be awarded around EUR 450 million from the European Bank for Reconstruction and Development (EBRD) for a package of projects in the field of road infrastructure, railway and energy. This was announced at the meetings Vice Prime Minister and Minister of Finance, Zoran Stavreski had with EBRD representatives in Zagreb.


As MIA reported, Bank is interested in the Project for Construction of Eastern Part of Railway Corridor 8 and Program for Track Renewal along Key Sections of Corridor 10, as well as the Project for Construction of Gas Pipeline System.


The bank is also expected to confirm the grant of half million euros for preparation of feasibility study for railway line of Corridor 8, as well as for EBRD Board of Directors to reach decision for a loan worth EUR 17.6 million for reconstruction of railway line along Corridor 10 by end-June.


During EBRD Annual Meeting, ongoing Regional and Local Roads Program Support Project, in which EBRD has invested around EUR 50 million was also discussed. EBRD has also shown certain interest in financing the Project for Construction of Gas Pipeline System, for which Board of Directors is expected to reach the final decision by the end of the year, after reviewing the already prepared feasibility study.


As for the energy sector, HPP "Boskov most” Project worth EUR 80 million will be discussed.


In the afternoon, Vice Prime Minister Stavreski and the Director of the Agency for Foreign Investments Viktor Mizo will present the opportunities for investing in Macedonia to the interested investors and international financial institutions.


During EBRD Annual Meeting, loan between EBRD and Ohridska banka in the amount of EUR 10 million will be also signed, to be used for crediting small- and medium-sized enterprises.


Since it started operating, EBRD has invested more than EUR 510,000,000 in Macedonia in over 40 projects in the financial sector, energy sector, infrastructure and corporation activities.


Forum in Zagreb was attended by over 2000 high government officials, bankers and experts debating how to strengthen financial markets so as to achieve sustainable economic growth and accelerate the pace of recovery of economies following last year’s financial crisis.


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