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North Macedonia Secures Over €560 Million for Railway Projects

The Ministry of Finance of North Macedonia announced that it has secured more than €560 million for the completion of the railway line to Bulgaria and the joint rail crossing "Tabanovce" with Serbia. 

This funding for these projects has been provided through the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the Western Balkans Investment Framework (WBIF), and the IPA programme.

The legislative solutions for the utilization of these funds were adopted yesterday in the Parliament of North Macedonia and were the focus of today’s meeting between the Finance Minister Fatmir Besimi and representatives from the EBRD and EIB, Fatih Turkmenoglu and Gabriel Bjorn.

The statement from the meeting specified that the project for the construction of the joint railway crossing at Tabanovce, with the Republic of Serbia, has been allocated €5 million from the EBRD and a €2.5 million grant from the WBIF.

Additionally, for the implementation of phase 3 of railway corridor 8 – the section from Kriva Palanka to the border with Bulgaria – €175 million has been secured from the EBRD and another €175 million from the EIB. This project will also receive an investment grant of €149.2 million from the WBIF and a grant of €60.77 million from IPA 2.

This project aims to fully complete the construction of the eastern part of railway Corridor 8 up to the border with the Republic of Bulgaria. The upcoming period is expected to see the signing of financial agreements with the EIB, EBRD, and the European Commission (EC) to facilitate the realization of these funds.

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