| Project Detail |
Location:
North Macedonia
Project number:
53041
Business sector:
Transport
Notice type:
State
Environmental category:
A
Approval date:
18 Oct 2023
Status:
Concept Reviewed
PSD disclosed:
04 Jul 2023
Project Description
Provision of a sovereign loan of up to EUR 175 million to the Republic of North Macedonia (the "Borrower") for the benefit of the Public Enterprise for Railways Infrastructure ("PERI") for completion of the last section of rail infrastructure on the eastern end of the rail Corridor VIII. The loan will finance: (i) the construction, signalling and telecommunication from Kriva Palanka to the Bulgarian border in total length of 23.4 km, and (ii) the electrification works for the overall eastern rail line including the sections 1, 2 and 3 in total length of 88 km. The Project is envisaged to be co-financed by European Investment Bank ("EIB") and the EU through the Western Balkans Investment Framework ("WBIF") and the national Instrument for Pre-Accession II ("IPA II").
Project Objectives
The Project will: i) establish very first connection of the Macedonian rail transport with the Bulgarian and EU core TEN-T network, ii) facilitate the international/transit movement of goods and people, in particular with EU neighbouring countries and Turkey, and iii) shift traffic from road to rail transport by improving the competitiveness of the rail sector. Additionally, the Project will increase traffic safety and reliability for both passengers and freight, offer opportunities for business development near the railway line and stations, and improve environmental conditions in settlements and regions covered by the Project. |
