Trans-European Rail Corridor extends to the north-eastern Macedonian town of Kriva Palanka.
The EBRD is making a loan of up to €145 million to finance the modernisation of railway infrastructure in FYR Macedonia and to strengthen the country’s regional transport links. This sovereign loan to the Macedonian Public Enterprise for Railway Infrastructure provides funding to upgrade the second phase of the eastern section of the Pan-European Corridor VIII.
It will allow completion of a key east‐west 34 km section of the rail corridor, which will ultimately link the Black Sea coast in Bulgaria to the Adriatic coast in Albania, as well as Turkey. The total cost of the project is €600 million.
Under this project, the EBRD will also facilitate cross-border agreements with Serbia and Kosovo, which will formalise and simplify border crossing procedures throughout the region. This will help increase the transfer of freight to rail on these routes by at least 20 per cent, with the potential for more as service levels improve.
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