The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved 305 million euros to Macedonia to finance infrastructural projects – of those 145 million euros are intended for the second stage of the Beljakovce-Kriva Palanka railroad section and 160 million euros for the National Road Programme.

“The funds are provided under exceptionally favourable conditions – 15-year payment period with a four-year grace period and an interest rate of only 1.15%. It is an additional confirmation by the European Bank for Reconstruction and Development of the overall policies and the perspectives of Macedonia’s economy,” Deputy PM and Finance Minister Zoran Stavreski stated.

With the 145 million euros approved by EBRD for the construction and rehabilitation of existing sections of Beljakovce-Kriva Palanka railroad track, he said, all necessary funds have been provided to complete this strategically important project for Macedonia, which is set to open a new corridor for the economy and citizens of Macedonia.

“The second part of the funds in amount of 160 million euros is intended to construct and overhaul roads and it covers four highways. The first stage includes the construction of Gradsko-Prilep road near Drenovska Ravine where an expressway will be built enabling Prilep and Bitola to get an outstanding connection with the motorway and with Skopje,” said Stavreski.

Apart from this road, it is envisaged expressways connecting Stip and Kocani, Ohrid and the village of Pestani to be built as well as a highway from Trebenista towards Struga.

“This serious investment in roads and railway allows support to be provided in the short-term for the Macedonian economy and for Macedonian companies that will be hired during the construction process and in the long run, we will make the Macedonian economy to be more competitive securing better conditions for the citizens in eastern and western Macedonia,” concluded Stavreski.