The European Investment Bank (EIB) has mechanisms to recover funds if corruption is found.
This was stated by Bjorn Gabriel, EIB representative in North Macedonia, reports BGNES special envoy in Skopje Dimitar Ruskov.
"The EIB has zero tolerance for corruption. The EIB has mechanisms to recover funds if a case of corruption is detected," Gabriel stressed, commenting on the role of corruption in the absorption of EU money in the region.
BGNES recalls that the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and the Macedonian government are financing with 560 million euro the third stage of the eastern section of the Corridor 8 railway network. The funds allow the construction of 24 km of railway line from Kriva Palanka to the border with Bulgaria, as well as the electrification of 88 km of road between Kumanovo and the border. Once completed, the new railway line will be able to carry around 500,000 tonnes of freight and half a million passengers a year, contributing to better connectivity, sustainability and socio-economic development in North Macedonia and the whole region.
The financing package consists of a EUR 175 million loan from the EIB, EUR 175 million from the EBRD, an EU grant of EUR 150 million provided through the Western Balkans Investment Framework and up to EUR 60 million in grants under the Instrument for Pre-Accession Assistance. | BGNES
