Tevdovski: WB soon to approve US$ 420 million for infrastructure projects and investments in human capital

12th April 2019, Washington - World Bank Board of Directors will soon adopt the Country Partnership Framework 2019 - 2023, under which US$ 420 million will be made available to the Republic of North Macedonia. The funds are intended for projects in the field of infrastructure, improvement of business climate and investments in human capital, Minister of Finance, Dragan Tevdovski, pointed out following the meeting with the Country Director for the Western Balkans Region of the World Bank, Linda Van Gelder, held within the Spring Meetings of the IMF and the World Bank Group.

Next month, we expect for the WB Board of Directors to adopt the Country Partnership Framework with the Republic of North Macedonia, for the coming period, extending US$ 420 million to be used for financing construction of local roads. In addition, funds will be used for investing in improvement of human capital in our country. Living standard of the citizens in North Macedonia will be thus improved, Tevdovski said.

Western Balkans Trade and Transport Facilitation Project, amounting to EUR 26 million, is also included in these projects. Local Roads Connectivity Project, amounting to EUR 70 million, is also part of the respective projects. The Strategy encompasses the Agriculture Modernization Project aimed at, among other things, establishment of purchasing and distribution centers, as well as projects aimed at supporting the reforms for development of education and health, and the Pension Reform Project.

 

During the 2019 Spring Meetings, the Delegation, headed by the Minister of Finance, Dragan Tevdovski, and the Governor of the National Bank, Anita Angelovska-Bezhoska, will meet high officials from the World Bank, the IMF, the EIB and other institutions.