January 17 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Tuesday it has approved a 55 million euro ($59.6 million) sovereign loan to North Macedonia for modernisation and expansion of the country's waste management system.
The loan is intended to back construction of new and rehabilitate existing sanitary landfills, build new transfer stations, waste infrastructure for collection and transport, and a recycling centre, the EBRD said in a project summary document.
The loan will also allow the country to close two non-engineered dumpsites and will support the establishment of three regional integrated waste-management systems in compliance with European Union (EU) standards across five regions, benefiting over 1 million people.
“We are delighted to support the modernisation of North Macedonia’s waste management system with our first investment in this sector. Modernising waste management systems and increasing recycling rates are key to reducing pollution, creating opportunities in the circular economy and moving the country closer to EU environmental standards,” Susan Goeransson, EBRD director for infrastructure Europe, was quoted as saying.
The project will also get donor-funded help, including 24 million euro in investment grants and 13.1 million euro in technical assistance, reads the note.
Donors include the Swiss State Secretariat for Economic Affairs (SECO), Swedish International Development Cooperation Agency (SIDA) and the Western Balkans Investment Framework (WBIF).
($ = 0.920 euro)