| Project Detail |
Project Description Provision of a sovereign loan of up to EUR 70 million (the loan) to the Republic of North Macedonia for on-granting to the city of Skopje. The loan will finance the construction of a Bus Rapid Transit (BRT) corridor on two dedicated lanes, the acquisition of a new tram-bus fleet and the construction of a new depot (the project) in Skopje. The project will be implemented in two phases and comprises of two tranches: Tranche 1 of up to EUR 40 million to finance BRT Line 1 (east-west) to be committed at signing, and Tranche 2 of up to EUR 30 million to finance BRT Line 2 (north-south) to be committed upon completion of separate due diligence. The loan will be extended to the Republic of North Macedonia and on-granted to the city of Skopje, which will be the implementing agency. The project is envisaged as part of the EBRD Green Cities Framework 2 (GrCF2). The facility is designed to serve as a sector-wide catalyst for addressing environmental challenges at municipal level. Project Objectives The main purpose of the project is to substantially improve the level of public transport service and help reduce air pollution in Skopje, currently one of the most polluted cities in Europe. The BRT is expected to play a key role in the improved system through the introduction of dedicated bus corridors on the main city arteries with related improvements in frequency, capacity and speed of the urban transport system in general. |
