March 22 (SeeNews) - The European Investment Bank (EIB) said on Wednesday that EIB Global, its arm for activities outside the European Union, has signed a 70 million euro ($75.5 million) EU investment grant with North Macedonia for the construction of a wastewater treatment plant in the capital Skopje.
The project, which is part of the European Commission’s Economic and Investment Plan and of the Green Agenda for the Western Balkans, is expected to improve living conditions for some 500,000 people, EIB said in a press release.
The 197.2 million euro project is also financed with a 68 million euro loan by EIB Global and a 58 million euro loan by the European Bank for Reconstruction and Development (EBRD), as well as the government of North Macedonia, the government in Skopje said in a separate press release on Wednesday.
The EIB has provided 1.1 billion euro of financing to North Macedonia since 1991, backing local SMEs, transport, energy and utility infrastructure projects.
($ = 0.92725 euro)