Kocani Municipality will use EUR 600,000 under World Bank Municipal Services Improvement Project to reconstruct part of water supply network.Vice Prime Minister Zoran Stavreski and Kocani Ratko Dimitriovski singed the Sub-Loan Agreement today.

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Kocani is the first municipality having met all TORs to utilize the funds under the Municipal Services Improvement Project, financed by World Bank, in the amount of EUR 18.9 million, aimed at municipal investments with cost saving or revenue generating potential.

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Minister Stavreski pointed out that in addition to Kocani, municipalities of Ilinden, Bogdanci, Novaci and Gradsko were also undergoing project approval procedure.

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– Around 40 municipalities have shown interest, while 10 and so are expected to be extended funds in the first quarter next year, Stavreski said.

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Same World Bank TORs as for the Republic of Macedonia apply, i.e. 10-year repayment period, with three-year grace period and 6–month LIBOR rate.

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Mayor Dimitrovski pointed out that funds granted would be used to replace one third of the pipeline in the middle zone of the town long 6.4 km. The municipality will provide additional funding so as to replace all pipes that are 40 years old and are made of asbestos. (MIA)

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