SKOPJE (Macedonia), November 20 (SeeNews) – Russia will settle a $60 million (40.3 million euro) debt it owes Macedonia, dating back to the time when the Balkan state was stiill a Yugoslav republic, through the implementation of a gasification project, Macedonia's Finance Ministry said on Friday.
Macedonian Finance Minister Zoran Stavreski and his Russian counterpart Alexei Kudrin clinched a draft agreement on the debt settlement in Moscow earlier this week, the Macedonian Finance Ministry said in a statement.
The deal will now have to be approved by the Macedonian government and parliament before the project is launched next year, the statement said.
According to Stavreski, the Macedonian government will provide additional funding as the total value of the gasification project is estimated at $200-$300 million.
No further details about the project were immediately available.