Subscribe to our newsletter

EU Supports Railway Network to Complete Corridor VIII Connection to Bulgarian Border

Together with the Government of North Macedonia, the EU, including its bank — the European Investment Bank (EIB) — and the European Bank for Reconstruction and Development (EBRD) have announced a €560 million financial arrangement through Team Europe for the third phase of the Eastern section of the Corridor VIII rail network. 

Provided under the Global Gateway initiative, the funds will enable 24 km of railway line to be built between Kriva Palanka and the border with Bulgaria, and 88 km of track between Kumanovo and the border to be electrified. Once completed, the new rail line will be able to transport about 500 000 tonnes of freight and half a million passengers a year, contributing to better connectivity, climate resilience and socioeconomic development in North Macedonia and the region.

For this pivotal rail section, the Team Europe financing package consists of a €175 million loan from EIB Global (the arm of the EIB for activities outside the European Union), a €175 million loan from the EBRD, a €150 million EU grant channelled through the Western Balkans Investment Framework and up to €60 million in the form of an Instrument for Pre-accession Assistance grant. The project has and will continue to benefit from EU and EIB technical support, including through the JASPERS programme, for the preparation, tendering and implementation.

Must Read

Milica Uraz, CEO, Steel Impex

Transform Waste into a Valuable Resource

Thanks to constant innovations and work to improve quality over the past 15 years, Steel Impex has become the leader of Serbia’s waste recycling...