EBRD lending 167.6 mln euro to N. Macedonia for motorway project

The project will also benefit from a 20.8 million euro grant by the European Union (EU) and additional 8.8 million euro for technical cooperation provided through the Western Balkans Investment Framework (WBIF), the EBRD said in a press release on Friday.

The project envisages the construction of a dual two-lane motorway which will run parallel to an existing national road built 50 years ago.

The technical cooperation funding will support North Macedonia's ministry of transport and communications in developing a national e-mobility strategy and action plan fully dedicated to promoting the rollout of an electric vehicle fleet and infrastructure, the bank said.

The WBIF is a financing facility established by the European Commission, Western Balkan countries, bilateral donors, the CEB and other financial institutions to deliver funding for strategic investment projects in the region.

($ = 0.9584 euro)