"500 million euros are earmarked for the implementation of the third phase of railway corridor 8 to the Republic of Bulgaria, and 7.5 million euros for the construction of a joint railway crossing at Tabanovce," North Macedonia's Minister of Finance, Fatmir Besimi, said.
The European Investment Bank, the European Bank for Reconstruction and Development, the Investment Framework for the Western Balkans - VBIF, and the IPP program provide funding for the execution of these projects.
"The government and the Ministry of Finance are deeply committed to implementing large infrastructure projects to ensure the state's development." In this regard, we are working hard to provide financial resources for the implementation of large-scale infrastructure projects that will contribute to economic growth not only during their implementation, but also in the long run due to their importance in connecting and facilitating transportation," said Besimi.
He expressed gratitude to the EIB and the EBRD for providing financial resources for the country's important capital projects.
Financial resources in the amount of 175 million euros have been acquired from the EBRD and the EIB for the execution of the Project for Railway Corridor 8 - Phase 3, the portion from Kriva Palanka to the border with the Republic of Bulgaria. For the execution of this project, an investment grant of 149.2 million euros from the Investment Framework for the Western Balkans - VBIF, as well as a grant of 60.77 million euros from IPP 2, have been acquired. With this project, the eastern section of the Corridor 8 railway to the Republic of Bulgaria's border will be finished.
The EBRD has contributed 5 million euros in funding and the VBIF has offered a 2.5 million euro grant for the building of a common railway crossing at Tabanovce with the Republic of Serbia. /BGNES
