April 25 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is considering providing a senior unsecured loan of up to 26.4 million euro ($28.3 million) to North Macedonia's power transmission company MEPSO for an infrastructure development project in the southern part of the country.
The financing will be used for the construction of a 400/110kV substation, new 110kV OHTL connection and a training center for high voltage grid operators, as well as for the rehabilitation of existing lines and substations, the EBRD said in a project summary document on Thursday.
The project will also benefit from 7.8 million euro investment grant from the Western Balkans Investment Fund (WBIF) and 0.5 million euro grant from the Climate Investment Fund Accelerating Coal Transition. The total project cost will be 34.7 million euro.
This project is expected to cut energy losses by about 14.5 GWh per year.
($ = 0.932 euro)