Financing the construction of a key rail corridor linking Albania’s Adriatic coast to the Black Sea in Bulgaria is boosting regional integration in the Western Balkans. A €145 million loan was extended to finance the completion of a 34 km stretch of railway in north-eastern FYR Macedonia that will form a section of Trans-European Rail Corridor VIII.
This is the second phase of an EBRD project to modernise the international corridor and upgrade the country’s rail infrastructure in order to improve trade routes within the region. Phase one in 2012 saw us finance the construction of a 30.8 km section of Corridor VIII within FYR Macedonia.
Under the latest transaction, we will facilitate agreements with Serbia and Kosovo to simplify border-crossing procedures and encourage more freight transport by rail. The investment also promotes improved corporate governance, better environmental management and increased private sector involvement in the rail sector of FYR Macedonia.
€600 million –
total cost of the project
for project design and tender preparation