The European Bank for Reconstruction and Development (EBRD) has approved a EUR 145 million to FYR Macedonia for the construction of the second phase of the railway to Bulgaria, the Beljakovce – Kriva Palanka railway section (33.9 km), part of pan-European Corridor VIII.
The loan was obtained under exceptionally favorable conditions, according to the ministry of finance press release. The of repayment period was set to 15 years with a grace period of four years and the interest rate, which currently stands at 1.15%, was set at the equivalent of the six-month EURIBOR plus 1.0%.
Through the Western Balkans Investment Framework (WBIF) a grant of EUR 5.7 million was allocated for the preparation of basic project and for covering part of the construction supervision costs. In addition, EBRD will provide a loan of EUR 670,000 for technical assistance to support the project implementation.
More info on the B eljakovce – Kriva Palanka railway section construction tender: