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SKOPJE (North Macedonia), September 20 (SeeNews) – The European Bank for Reconstruction and Development is providing a 13 million euro ($14.4 million) loan to finance upgrades to the road toll system on Europe's Corridor VIII motorway section in North Macedonia, the bank said on Friday.
“The upgrades will increase revenue, allowing North Macedonia’s motorway system to be funded more sustainably,” the EBRD said in a statement.
The loan will finance upgrades of five toll stations as well as the building of three new stations, all connected to a toll collection centre in Skopje. North Macedonia plans to unify its two different toll systems into a single fully interoperable one.
“Among other improvements, solar panels will be installed on all 15 toll stations nationwide to promote greater use of renewable energy,” the EBRD noted, adding that solar panels will generate 45% of energy needed to run electronic toll stations.
The lender also said it has previously financed the construction and upgrade of eight toll stations along Corridor X, including installation of electronic toll collection equipment.
In September 2018, the EBRD said it is providing a 10 million euro senior loan to finance the construction of the 13-km Kriva Palanka - Deve Bair road section, part of Corridor VIII.
Corridor VIII is part of the Western Balkans' core network and an indicative extension of trans-European transport network.
The project will improve North Macedonia’s economic ties with the European Union via neighbouring EU member Bulgaria.
($ = 0.90511 euro)