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FYR Macedonia: EUR 145 million EBRD loan for second phase of the railway line to Bulgaria

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:

http://www.think-railways.com/macedonia-launch-tender-beljakovce-kriva-palanka-railway-section-end-2014/

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